StraitsX, Ant International, and Grab have partnered to launch a new stablecoin-powered payment system in Southeast Asia. This system aims to streamline cross-border payments for inbound tourists in Singapore, making transactions more seamless and efficient. Alipay+ apps now allow tourists to make hassle-free purchases at GrabPay merchants in Singapore, with instant Singapore dollar settlement for merchants, thanks to the use of blockchain technology and stablecoins.
This partnership aims to extend the Alipay+ network’s reach, making transactions easier for international travelers and supporting the growth of the region’s digital payment solutions. With the region’s cross-border e-commerce projected to reach $148 billion by 2027, this collaboration will help SMEs and consumers access more efficient and modern financial services.
