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Triple-A enables digital currency top-ups on Grab

Friday 22 March 2024 15:30 CET | News

Grab has announced that its services will now offer the option of topping up GrabPay ewallets in cryptocurrencies powered by Triple-A. 

As per the official press release, users can top up using five cryptocurrencies – Bitcoin; Ether; StraitsX’s Singapore dollar-backed stablecoin XSGD; USD-backed stablecoin USDC, which is managed by global payments firm Circle; and stablecoin Tether, also known as USDT. 

Grab has announced that its services will now offer the option of topping up GrabPay ewallets in cryptocurrencies powered by Triple-A.

From arranging deliveries to booking rides or paying for coffee at their nearest shop, digital currency owners in Singapore would not be able to use digital currencies for everyday transactions. Triple-A, which is licensed in US, EU and Singapore, handles the conversion of digital currencies into dollars with bank settlements instantly. 

Various companies have been moving to add crypto as a payment option as digital assets and blockchain are viewed as having a role to play in the future of transactions. Grab said it believes that digital money has the potential to help consumers, driver- and delivery-partners, and small businesses in its ecosystem by lowering the cost of transactions and improving security and fraud controls. While it’s still in nascent stages of adoption, Grab has been conducting pilots to explore the potential benefits of digital payment tokens, through collaborative efforts with industry partners including Amazon, Circle, StraitsX, Triple-A and UOB. 

In late January, the payment firm teamed up with bills payment platform AXS to allow people to use four digital currencies for 550 of the 600 AXS payment services. It means that members of the public can make top-ups or pay their recurring bills, such as road tax and enrichment class fees, in four cryptocurrencies – Bitcoin, Ether, USDT or USDC. 

About Triple-A 

Triple-A, the digital currency payment institution, enables businesses to pay and get paid in both traditional and digital currencies, volatility-free. From API to no-code integration, Triple-A’s frictionless, white-label payment solutions are designed to blend smoothly into existing business operations — all while upholding the highest standards of security and compliance. 

Licensed by the Monetary Authority of Singapore (MAS), Triple-A makes accepting payments in traditional and digital currencies simple for businesses worldwide. Triple-A is also licensed in the EU by Banque de France and is registered with the United States Financial Crimes Enforcement Network (FinCEN). 

Others that have partnered Triple-A for crypto payments include retailers iStudio, Farfetch, and Charles and Keith; the Singapore Red Cross; financial platform Reap; and payment firm AsiaPay. 

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Keywords: cryptocurrency, Bitcoin, payments , digital wallet
Categories: DeFi & Crypto & Web3
Companies: Grab, Triple-A
Countries: Singapore
This article is part of category

DeFi & Crypto & Web3

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Grab

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Triple-A

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