Grab, TripleA to enable crypto trading via GrabPay wallet

Crypto payments provider TripleA has partnered with super app Grab to enable TransCrypt users in Singapore to invest in digital tokens through their GrabPay wallet.

Photo credit: TripleA

The collaboration allows users to buy cryptocurrencies via GrabPay through TransCrypt, a TripleA brand.

Founded in 2017, Singapore-based TripleA allows online and offline businesses to accept cryptocurrency payments by converting them to local currencies in real time. This also includes white-label crypto trading to financial platforms.

Singapore is one of the countries that openly supports blockchain projects and cryptocurrencies. Crypto adoption among the city-state’s population is at around 9.4%.

The Grab tie-up will allow TripleA to expand cryptocurrency access to more Singapore residents, according to CEO Eric Barbier. He is an investor and also a board member at startups including Sleek, a Singapore-based accounting and online tax compliance firm; French fintech company Paytop; and Saudi Arabian neobank STC Pay, among others.

“Grab recognizes the growing interest in cryptocurrencies, and our partnership with TripleA demonstrates our openness to thoughtful collaborations in this space,” said Wong Wenbin, head of GrabPay, Grab Financial Group Singapore.

This is not the first partnership in the crypto space for GrabPay. In September, it teamed up with Coinhako to enable users of the Singapore-based crypto exchange to purchase digital assets instantly on its platform.

See also: How a Singapore crypto startup became a unicorn in just 2 years

Last month, Grab Financial Group, the fintech arm of the Singapore-based unicorn, announced that it was expanding its suite of products to empower small and medium-sized businesses across Southeast Asia.