TripleA, a leading crypto payments provider, partners with Grab to enable crypto investing for TransCrypt users with their GrabPay in Singapore. The collaboration allows users to buy crypto via GrabPay through TransCrypt (a TripleA brand).
Cryptocurrencies have gained greater acceptance during the pandemic, with Bitcoin’s price soaring to an all-time high this year.
“Grab recognizes the growing interest in cryptocurrencies, and our partnership with TripleA demonstrates our openness to thoughtful collaborations in this space. Working with players like TripleA who are recognized by the regulator also affirms our commitment to widen our offerings for our users in a safe and measured way,” said Wong Wenbin, Head of GrabPay, Grab Financial Group Singapore.
Founded by Eric Barbier in 2017, TripleA is headquartered in Singapore, offering crypto payment services, including white-label crypto trading to financial platforms. Singapore is one of the countries that openly support blockchain projects and cryptocurrencies. Homegrown bank DBS started Asia’s first bank-backed crypto trust service this year, allowing private banking clients to invest in digital assets.
“Cryptocurrency trading has gained traction in Singapore, with crypto adoption of around 9.4% of its population. We are very excited to partner with Grab to power crypto trading through TransCrypt. This collaboration will allow us to expand cryptocurrency access to more residents in Singapore,” said Eric, CEO of TripleA.
Cryptocurrency investments offer consumers more choice. Its decentralized nature also makes it easy for investors to buy and sell their digital assets. In the current climate, cryptocurrency has become more than just an investment as more companies accept cryptocurrency, with more people using it to buy everyday items.
TripleA allows online and offline businesses to accept cryptocurrency payments with zero price volatility risk by converting them to local currencies in real-time. With its easy setup, highly competitive exchange rate, and no-chargeback payment system, TripleA helps businesses increase their revenue by accessing the growing cryptocurrency users (300m+) community from all over the world.
Grab is a leading superapp in Southeast Asia, based on GMV in 2020 in each of food deliveries, mobility and the e-wallets segment of financial services, according to Euromonitor. Grab operates across the deliveries, mobility and digital financial services sectors in over 400 cities in eight countries in the Southeast Asia region – Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Grab enables millions of people each day to access its driver- and merchant-partners to order food or groceries, send packages, hail a ride or taxi, pay for online purchases or access services such as lending, insurance, wealth management and telemedicine, all through a single “everyday everything” app. Grab was founded in 2012 with the mission to drive Southeast Asia forward by creating economic empowerment for everyone, and since then, the Grab app has been downloaded onto millions of mobile devices. Grab strives to serve a double bottom line: to simultaneously deliver financial performance for its shareholders and a positive social impact in Southeast Asia. (www.grab.com)