Grab, Southeast Asia’s premier Uber-esque app, has added a Web3 crypto wallet to its platform, introducing cryptocurrency to an channels a massive new audience that consists of 180 million users. The service is currently limited to the Singapore region, supporting the Polygon wallet as well as providing advice regarding other wallets and NFTs.
The Web3 wallet system facilitates storing, sending, receiving, transferring, tracking, and managing digital assets/tokens established on blockchains/distributed ledgers – effectively making cryptocurrency to be more widely available than ever before.
The initiative marks a separation between digital tokens and the traditional fiat currency/GrabPay Credits which are confined to the GrabPay wallet. It’s a service provided to sophisticated users of the Grab platform – however Grab reserves its rights to refuse any fair and reasonable applications if they wish to do so.
Finally, should virtual tokens be sent to a blocked address or vice versa – token freezing, blocking of accounts, and other necessary actions may be taken with reportage to relevant law enforcement complexes too.