Grab's Stablecoin Project Seeks to Simplify Cross-Border Payments in Southeast Asia

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Grab's Stablecoin Project Seeks to Simplify Cross-Border Payments in Southeast Asia

Bitget-RWA2025/11/18 03:08

By:Bitget-RWA

- Grab partners with StraitsX to develop Web3 wallet and stablecoin-based cross-border payment solutions for Southeast Asia. - Initiative aims to unify fragmented regional payments via real-time stablecoin settlements, enabling GrabPay merchants to accept XSGD/XUSD transactions. - Potential Grab-GoTo merger discussions in Indonesia remain unconfirmed, with Danantara Indonesia exploring minority stake in combined entity. - Grab reports $873M Q3 revenue but flat EPS, facing stock volatility amid mixed analys

Grab Holdings Ltd. (NASDAQ: GRAB), a leading superapp in Southeast Asia, has entered into a partnership with Singapore’s StraitsX, a stablecoin infrastructure firm, to jointly explore the development of a Web3 wallet and a settlement network based on stablecoins for the region. The agreement, established through a memorandum of understanding (MOU) signed on November 18, is designed to bring digital asset capabilities to Grab’s platform, allowing users to utilize stablecoins such as XSGD and

XUSD

for transactions, and enabling GrabPay merchants to process cross-border payments from both domestic and overseas customers

according to reports

. This project aims to tackle the inefficiencies caused by Southeast Asia’s fragmented payment systems by using Web3 technology to establish a seamless, real-time settlement infrastructure

according to the Asian Banker

This collaboration comes as speculation continues regarding a possible merger between

Grab

and Indonesian tech giant GoTo, which was created through the 2018 union of Gojek and Tokopedia. Although Singapore’s Competition and Consumer Commission (CCS) has stated it has not yet received an official merger application,

according to the Star

the agency has expressed willingness to engage with the companies if talks progress. Should the merger proceed, it would result in a major regional powerhouse, significantly impacting both drivers and consumers in Indonesia, where both firms are active.

Recent reports suggest

that Indonesia’s state investment fund Danantara Indonesia is considering acquiring a minority interest in the merged company, possibly including a “golden share” that grants veto power over crucial decisions.

In terms of financial performance, Grab has experienced mixed outcomes recently.

Mitsubishi UFJ Asset Management increased its holdings

, signaling ongoing institutional confidence in Grab’s future. Nevertheless, the company’s shares have been volatile, falling 4.15% in recent trading amid worries about earnings and operational hurdles. Despite revenue rising to $873 million in the third quarter of 2025,

the company's earnings per share remained flat

, which has led to some investor hesitation. Analyst opinions are split: six out of seven covering the stock recommend buying, while one suggests caution

according to SET News

The planned Web3 rollout fits into Grab’s broader goal of growing its digital financial offerings. Kell Jay Lim, who leads Grab Financial, stated that working with StraitsX could improve cross-border retail payments while keeping the user experience simple. The project will prioritize regulatory-compliant custodial solutions, programmable smart contracts, and compatibility between Web2 and Web3 payment platforms

according to the Asian Banker

. At the same time, regulatory compliance remains a top concern, with StraitsX CEO Tianwei Liu highlighting the importance of addressing anti-money laundering (AML) risks and ensuring adherence to regulations across Asian markets

according to the Asian Banker

As Grab faces regulatory review over potential mergers and pursues Web3 advancements, its success will depend on balancing expansion with compliance and market demands. With the digital economy in Southeast Asia growing swiftly, the alliance with StraitsX positions Grab to harness stablecoin solutions in a region where cross-border payments and financial inclusion are ongoing priorities.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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