Grab Philippines has announced the launch of a new feature that allows users to make payments using cryptocurrencies. This partnership with global payment firm Triple-A and local exchange PDAX highlights the increasing integration of digital currencies into everyday life.
Launch of Cryptocurrency Payment Feature
Grab Philippines has introduced the ability to top up accounts via cryptocurrencies, marking a significant step toward crypto adoption in Southeast Asia. Earlier in 2024, crypto top-ups were made available in GrabPay.
Supported Cryptocurrencies
Users can choose from several cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Other cash-in methods include debit/credit cards, e-wallets, and bank transfers.
Reactions and Expectations from Implementation
Eric Barbier, CEO of Triple-A, emphasized the successful launch of the feature in Singapore and expressed hope for a similarly positive response in the Philippines. CJ Lacsican, Head of Grab Group, stated that integrating cryptocurrency as a cash-in option reaffirms their commitment to financial inclusion for a broader audience.
Recent developments at Grab Financial Group illustrate the increasing popularity of cryptocurrencies in everyday transactions, and the successful implementation of this feature could lead to similar functionality in other Southeast Asian countries.
