Grab supports cryptocurrencies with Triple-A in Singapore

Grab users can now pay for rides & stores with cryptocurrencies via GrabPay and Triple-A. Licensed in Singapore, the US, and the EU, Triple-A instantly converts digital currencies into dollars with bank settlements.

Southeast Asian tech giant Grab now supports top-ups with digital currencies, including Bitcoin (BTC), Ether (ETH), and stablecoins, following a partnership with digital currency platform Triple-A.

In a statement, Triple-A explains that Grab does not directly manage or hold digital currencies. Instead, Triple-A instantly converts digital currencies into dollars with bank settlements, ensuring Grab is shielded from market volatility and does not have to hold custody of cryptocurrencies or manage digital currencies on its balance sheet.

The feature is currently only available for customers in Singapore.

Founded by Eric Barbier in 2017, Triple-A is headquartered in Singapore, offering digital currencies payment services, including white-label digital currencies trading to financial platforms. Singapore is one of the countries that openly support blockchain projects and digital currencies. Homegrown bank DBS started Asia’s first bank-backed digital currencies trust service this year, allowing private banking clients to invest in digital assets.