Introduction
Circle Internet Financial Ltd., the issuer of USDC stablecoin, has announced a partnership with Grab, Southeast Asia?s leading super app, to provide Web3 services. This partnership will allow Grab?s customers to access USDC and integrate it into their digital wallets.
USDC Integration with GrabPay
With this integration, Grab customers can easily convert fiat currency into USDC and use it for payments and other transactions within GrabPay. USDC is a stablecoin that is pegged to the US dollar, meaning that its value remains relatively stable, unlike other cryptocurrencies that are known for their volatility.
Web3 Services
Web3 services refer to a decentralized, blockchain-based infrastructure that enables the creation of applications that are more secure, transparent, and decentralized. With this partnership, Grab will be able to leverage the benefits of Web3 services to provide its customers with a more secure and transparent payment system.
Circle?s Role
Circle will provide Grab with the necessary infrastructure to enable USDC integration into GrabPay. Circle will also provide a suite of Web3 services, including wallet infrastructure, compliance tools, and APIs, to enable Grab to build decentralized applications on the blockchain.
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Conclusion
The partnership between Circle and Grab is a significant milestone in the adoption of blockchain technology and cryptocurrencies in Southeast Asia. It will enable Grab to provide its customers with a more secure and transparent payment system, while also allowing Circle to expand its reach in the region.
