TL;DR:
- Circle Internet Financial partners with Grab to introduce Web3 experiences in Singapore.
- The ‘Grab Web3 Wallet’ allows users to set up blockchain-enabled wallets, earn rewards, and use NFT vouchers.
- This partnership supports Singapore’s Project Orchid initiative for responsible digital asset innovation.
- Circle’s Web3 Services aim to empower Web 2.0 companies and new Web3 startups with stablecoins and smart contracts.
- Circle is making significant strides in Singapore, including obtaining a Major Payment Institution License and collaborating with Tribe for Web3 development talent.
Circle Internet Financial (Circle) is making waves in Singapore with an exciting new partnership announcement.
The renowned Web3 company is teaming up with Grab, the popular ride-hailing and super app, to introduce cutting-edge Web3 customer experiences to the Singaporean audience.
This groundbreaking venture involves the integration of Circle’s innovative Web3 Services platform directly into the Grab app.
The Grab Web3 Wallet: Your Portal to Web3
Central to this collaboration is the introduction of the ‘Grab Web3 Wallet’.
This wallet is designed to empower users in Singapore by providing them with the tools to set up their blockchain-enabled wallets.
But it doesn’t stop there; users can also earn rewards, collectibles, and even use non-fungible token (NFT) vouchers.
The Grab Web3 Wallet debuts with a bang, offering support for SG Pitstop Pack NFT vouchers.
These vouchers can be used at popular stores and exciting adventures across Singapore, just in time for the upcoming F1 Singapore Grand Prix.
“Circle is focused on partnering with global-scale consumer internet brands to bring everyday utility to users.
Piloting our technology with Grab’s customers brings us closer to realizing the full potential of responsible digital assets innovation,” said Jeremy Allaire, Co-founder and CEO of Circle.
Supporting Singapore’s Vision: Project Orchid
This partnership isn’t just about technology; it’s about embracing innovation and supporting Singapore’s forward-thinking vision.
Circle’s collaboration with Grab plays a crucial role in advancing the Monetary Authority of Singapore’s (MAS) Project Orchid initiative.
It’s a real-world demonstration of Purpose Bound Money.
“Circle is thrilled to partner with Grab to accelerate adoption of blockchain-powered innovation and support Singapore’s forward-thinking vision as a leading global hub for responsible digital asset innovation,” said Dante Disparte, Chief Strategy Officer and Head of Global Policy of Circle.
Circle’s Momentum in Singapore
Circle’s influence in Singapore is growing rapidly. Notably, they obtained a Major Payment Institution License from the MAS in June 2023.
They’ve also officially opened their office in May, further solidifying their presence in the region.
In February 2023, Circle joined forces with Tribe, the country’s first government-supported blockchain ecosystem builder.
Together, they launched a pioneering training and support program aimed at nurturing and upskilling the Web3 developer talent pool in the region.
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