SINGAPORE, Sept. 14, 2023 /PRNewswire/ -- Circle Internet Financial (Circle) announced a partnership with Grab today to pilot Web3 customer experiences in Singapore through the integration of Circle's new Web 3 Services platform in the Grab app.
Available as the 'Grab Web3 Wallet,' Singapore-based users may set up a blockchain-enabled wallet, earn rewards and collectibles, and use non-fungible token (NFT) vouchers. To start, the Grab Web3 Wallet supports the use of the SG Pitstop Pack NFT vouchers at popular stores and adventures in Singapore during 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.
Launched as a pilot for the SG Pitstop Pack, Circle's collaboration with Grab supports the Monetary Authority of Singapore's (MAS) Project Orchid initiative as 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 Web3 Services aim to help both existing Web 2.0 internet companies and new pure-play Web3 startups to safely and easily bring the power of stablecoins, digital assets and smart contracts to consumer and enterprise applications.
Circle continues to build momentum in Singapore, having previously obtained a Major Payment Institution (MPI) License from the MAS in June 2023, and officially opened its office in May. In February 2023, Circle collaborated with Tribe, the country's first government-supported blockchain ecosystem builder, on a novel training and support program aimed at growing and upskilling the region's Web3 developer talent pool.
About Circle Internet Financial, LLC
Circle Internet Financial, LLC (Circle) is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle is the issuer of USDC and Euro Coin - highly liquid, interoperable, and trusted money protocols on the internet. Circle's open and programmable platform and APIs make it easy for organizations to run their internet-scale business, whether it is making international payments, building globally-accessible Web3 apps or managing their internal treasury. Learn more at https://circle.com.
About Circle Programmable Wallets
Circle Programmable Wallets application programming interface ("API") is offered by Circle Technology Services, LLC ("CTS"). CTS is not a regulated financial services company and the API does not include financial, investment, tax, legal, regulatory, accounting, business, or other advice. For additional details, please click here to see the Circle Developer terms of service.