PANews reported on November 18th that Southeast Asian ride-hailing giant Grab and Singapore-based stablecoin platform StraitsX signed a memorandum of understanding to develop a Web3 wallet and stablecoin clearing network for the Asian market. The two companies will work together to integrate the Web3 wallet into the Grab App, enabling GrabPay merchants to accept stablecoins such as XSGD and XUSD, and facilitating cross-border, real-time, and compliant settlements. The system will incorporate smart contracts and on-chain fund management, with all user assets managed in non-custodial wallets, complying with regulatory requirements.