Grab, Southeast Asia’s largest Uber-like app has added a Web3 crypto wallet to its platform. With 180 million users, this addition brings cryptocurrency to a massive new audience. Currently, the Web3 wallet is available for use in the Singapore region, with support for the Polygon wallet and guidance on wallets and NFTs.
Source: @0xjaypeg
According to the announcement, the Web3 wallet allows users to store, send, receive, transfer, track, and manage digital assets and tokens that are created and recorded on a blockchain or distributed ledger. To use the wallet, digital tokens must be available for use in the wallet and transacted on blockchain networks and protocols that are compatible with the wallet. These tokens can then be used or spent at participating third-party providers, making cryptocurrency more accessible than ever.
Source: @0xjaypeg
The Web3 wallet holds digital tokens separately from the fiat currency or GrabPay Credits, which are held in the GrabPay Wallet. The service is currently only available to users of the Grab Platform who have fulfilled the eligibility conditions determined by the company. However, the company reserves the right to reject any participation from any user at its sole and absolute discretion without assigning any reason whatsoever.
Besides, in the event that users send supported digital tokens to a blocked address or receive supported digital tokens from a blocked address, the company may take necessary actions, including freezing the tokens, terminating the user’s account, or reporting suspected illegal activity to applicable law enforcement agencies.
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