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Grab users can now pay using cryptocurrency

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Grab users can now pay using cryptocurrency

Grab users can now pay in cryptocurrency following a partnership between the tech company and licensed payments provider Triple-A.

Under the partnership, Grab users can top up their GrabPay wallet via digital payment tokens, said a Grab spokesperson when MARKETING-INTERACTIVE reached out.

In addition, the new feature provides users with added flexibility and convenience as it allows them to convert their digital assets, such as stablecoins, into usable funds in their GrabPay wallets. 

Don’t miss: Grab tests new feature pairing female drivers with female passengers 

Some cryptocurrencies users can make payments with include Bitcoin, XSGD, Ethereum, USDC and USDT. 

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By expanding the top-up options to include digital payment tokens, Grab can now provide users with a seamless and efficient way to access the company’s wide range of services. 

The feature is currently only available in Singapore. That said, Grab will continue to monitor user adoption and respond to demand for such services, it said. 

This isn’t Grab’s first partnership with Triple A. In 2021, Triple A partnered with Grab to allow users to buy digital currencies via GrabPay through TransCrypt. 

“Grab recognises the growing interest in digital currencies, and our partnership with Triple-A demonstrates our openness to thoughtful collaborations in this space,” said Wong Wenbin, head of GrabPay, Grab Financial Group Singapore in 2021.

“Working with players such as Triple-A who are recognised by the regulator also affirms our commitment to widen our offerings for our users in a safe and measured way.” 

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Related articles:  
Grab reportedly raises GXS Bank’s capital by SG$145.1m  
You may soon be able to bid for a fare on Grab with this new feature 
Grab’s stock prices correct after Meituan expresses disinterest in foodpanda 

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Truth Social Files for Cryptocurrency Blue-Chip ETF

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Truth Social Files for Cryptocurrency Blue-Chip ETF

Truth Social, the social media platform backed by former U.S. President Donald Trump, has submitted an application for a cryptocurrency blue-chip ETF S-1 filing. This move marks a significant shift for the platform, which has been primarily known for its social media presence, into the realm of cryptocurrency investments. The filing indicates that Truth Social is aiming to capitalize on the growing interest in digital assets, particularly among its user base, which includes a significant number of individuals who are already engaged with cryptocurrencies.

The Trust’s assets are primarily composed of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cronos (CRO) held by the Trustee. Under the terms of the Trust Agreement, the Trust will allocate its assets to a percentage of the portfolio assets (allocation ratio) initially expected to be approximately 70% Bitcoin, 15% Ethereum, 8% SOL, 5% CRO, and 2% XRP. This allocation reflects a strategic focus on blue-chip cryptocurrencies, which are seen as more stable and less speculative compared to smaller, more volatile tokens.

The decision to file for a cryptocurrency ETF comes at a time when the cryptocurrency market is experiencing renewed interest. The market has seen a resurgence in activity, driven by factors such as declining interest rates and a more crypto-friendly regulatory environment. This shift has led many investors to reconsider their positions in cryptocurrencies, particularly in blue-chip tokens like Bitcoin and Ethereum.

The filing for a cryptocurrency ETF is a significant step for Truth Social, as it allows the platform to offer its users a more diversified investment option. By providing access to a blue-chip cryptocurrency ETF, Truth Social can attract a broader range of investors who are looking for a more secure and regulated way to invest in digital assets. This move also positions Truth Social as a forward-thinking platform that is adapting to the evolving financial landscape, where cryptocurrencies are becoming an increasingly important part of the investment ecosystem.

The submission of the S-1 filing is a crucial step in the process of launching an ETF. It involves providing detailed information about the fund’s structure, investment strategy, and risk factors to regulatory authorities. Once approved, the ETF will allow investors to gain exposure to a basket of blue-chip cryptocurrencies without having to directly purchase and manage individual tokens. This can be particularly appealing to investors who are new to the cryptocurrency market or who prefer the convenience and security of an ETF.

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The filing also highlights the growing integration of cryptocurrencies into mainstream financial products. As more platforms and companies enter the cryptocurrency space, the demand for regulated and secure investment options is likely to increase. This trend is driven by the recognition that cryptocurrencies offer unique benefits, such as decentralization, transparency, and the potential for high returns, which make them an attractive addition to traditional investment portfolios.

In summary, Truth Social’s submission of a cryptocurrency blue-chip ETF S-1 filing is a strategic move that reflects the platform’s commitment to innovation and its recognition of the growing importance of cryptocurrencies in the financial landscape. By offering a regulated and secure investment option, Truth Social can attract a broader range of investors and position itself as a leader in the evolving world of digital assets.

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Top Cryptocurrency Stocks To Add to Your Watchlist

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Top Cryptocurrency Stocks To Add to Your Watchlist
Robinhood Markets, Galaxy Digital, Bit Origin, Bitdeer Technologies Group, HIVE Digital Technologies, Bitfarms, and Bitcoin Depot are the seven Cryptocurrency stocks to watch today, according to MarketBeat’s stock screener tool. Cryptocurrency stocks are shares of publicly traded companies whose co
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Adecoagro Partners With Tether to Pioneer Renewable Energy Use for Bitcoin Mining in Brazil – Mining Bitcoin News

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Adecoagro Partners With Tether to Pioneer Renewable Energy Use for Bitcoin Mining in Brazil – Mining Bitcoin News
decoagro is partnering with Tether to explore the use of its renewable energy generation for bitcoin mining in Brazil. This initiative will enable Adecoagro to redirect excess energy, currently sold at spot market prices, into a new revenue stream: bitcoin. Tether and Adecoagro Partner to Establish Green Energy Bitcoin Mining Operation in Brazil Tether, one […]
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