GrabSG's newest product launch -> The Web3 Wallet

As one of Grab's latest financial services, besides GXS Bank and Grab Invest, Grab's Web3 wallet brings digital assets and the blockchain to ever Grab user's fingertips. The Web3 wallet is able to hold NFT Vouchers and NFT collectables which users can unlock while using the vouchers at participating merchants in Singapore.

Each Voucher ($1/$2/$5) is backed by an equivalent amount of XSGD (by StraitsX) which is transferred to the merchant once the voucher is used and burnt on the blockchain.

These Vouchers are included in the SG Pitstop Pack which are available for purchase on Fave.
As pointed out by Alex here, the NFT Voucher uses MAS's Purpose-Bound Standard (PBS).

How does the SG Pitstop Pack Vouchers work?

1. When the user purchases a SG Pitstop Pack, they are issued NFT Vouchers in their Grab Web3 wallets. Each NFT Voucher issued is backed by an equivalent amount of XSGD which is held on the Polygon blockchain.
2. When the user use the NFT voucher at a merchant, the voucher is 'burnt' on the blockchain (or sent to a burn address which no one have access to) and the equivalent amount of XSGD is sent to the merchant on the blockchain.
3. The merchant would (likely) be able to redeem XSGD for cold hard SGD cash through StraitsX

Web3 Wallet Interface (Left)

• Check out your wallet address on the polygon blockchain by entering it on https://polygonscan.com/
• Check out your current collectibles and vouchers under the NFT tabs (FYI both the voucher and collectibles are NFTs)
• Under Activity, you can see every single transaction
  (Receiving Vouchers/ Using Vouchers) and how it shows up on the blockchain by clicking View on PolygonScan

SG Pitstop Pack Voucher (Right)

• Unlock 4 mystery NFT collectibles when you make purchases at certain merchants!
• Free Fave eCard ($2 for existing users and $10 for new users)
• $14 worth of NFT vouchers when you only spend $12!

Dashboard Details:

• Created by cloudr3n
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