Southeast Asian superapp Grab has launched cryptocurrency top-up functionality for GrabPay wallets in the Philippines, enabling users to fund accounts with Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Tether (USDT). This expansion follows the successful March 2024 implementation in Singapore, leveraging partnerships with Singapore-based payments provider Triple-A and Philippine digital asset exchange PDAX.
Filipino users can now select crypto as a cash-in method within the Grab app, enter peso amounts, and transfer supported tokens from external wallets. Funds appear instantly in GrabPay upon confirmation, usable across Grab's ecosystem including ride-hailing, food delivery, and merchant payments. Regulatory compliance is ensured through PDAX's oversight by Bangko Sentral ng Pilipinas and Triple-A's licensing under Singapore's Monetary Authority.
The feature marks a strategic advancement for Grab, which serves 180 million users across Southeast Asia and reported $567 million quarterly revenue. This builds on Grab's Web3 initiatives, including a September 2023 Circle partnership for blockchain wallets and October 2023 Polygon integration for NFT vouchers in Singapore.
Globally, payment infrastructure investment accelerates as stablecoins settled $27.6 trillion in Q1 2025—doubling Visa's 2023 volume—with Stripe's $1.1 billion acquisition of crypto firms Privy and Bridge. Regulatory developments include the U.S. GENIUS Act establishing clearer stablecoin frameworks.