Grab launches crypto top-up in the Philippines, enabling users to convert digital assets into GrabPay credits for everyday use.
Grab, Southeast Asia’s leading ride-hailing and digital services platform, has rolled out a new feature that allows users in the Philippines to top up their GrabPay wallets using cryptocurrencies. With this move, Grab makes a significant step towards financial inclusion and adopting digital money in one of the most crypto-friendly countries of the region.
Grab Introduces Crypto Payments in the Philippines After Singapore Pilot Success
Following the release of the feature in Singapore in 2024, Grab has now applied this technology to the Philippines, whose population is more than 112 million with a rapidly developing digital economy. The new expansion is based on the successful pilot program and is a broader strategy of Grab to incorporate new technologies that help to provide financial inclusion.
This is possible due to the collaboration with Triple-A, a regulated crypto payment gateway, and PDAX, a licensed crypto exchange in the Philippines. Triple-A is under the regulatory watch of the Monetary Authority of Singapore (MAS) and registered with the Financial Crimes Enforcement Network (FinCEN) of the U.S. PDAX is a licensed service by Bangko Sentral ng Pilipinas (BSP), and it provides high regulatory and security levels.
With this collaboration, the users will now be able to convert most of the digital assets, including Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Tether (USDT), into GrabPay credits. Users can use these credits for rides, food delivery, and other daily services in the Grab app. The GrabPay wallet shows the amount right after the crypto transaction. This process is quick and easy.
In his statement, Eric Barbier, the CEO of Triple-A, emphasized the effect of the expansion: “Following the successful deployment in Singapore, it is thrilling to expand the crypto top-up to the Philippines. This market is ready to see the integration of digital currency and this launch is expected to translate this dream into reality.”
Crypto Integration Signals New Era for Financial Services in Southeast Asia
CJ Lacsican, the Vice President of Cities and the Head of Grab Financial Group in the Philippines, has pointed out that this step is an expression of the desire to advance financial inclusion. A lot of Filipinos do not have access to conventional banking services, and crypto may offer an easy solution to this problem.”
This functionality benefits the Philippines directly, as many people work in the gig economy or receive payments in digital currencies. Moreover, it allows users to spend their earnings without converting to traditional bank systems. As a result, it increases access to everyday services. Crypto earners and savers can now use their money to purchase their daily needs without involving traditional banks or changing them to fiat currencies.
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This trend is also indicative of the general situation in Southeast Asia. Grab has a large coverage of more than 180 million users in 500 cities of 8 countries. The fact that it has entered into crypto services means that blockchain-based finance is increasingly gaining acceptance in the region.
Cryptocurrencies’ integration into GrabPay offers an easy-to-use method of connecting the world of decentralized finance with real-world usability. It is also an indication that technologically advanced financial services are no longer futuristic; they are entering mainstream transactions of millions of people.
With the digital environment developing, the initiative by Grab may encourage other platforms to consider crypto-related services, particularly in those countries where mobile penetration is robust, and the number of underbanked individuals is high.
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