Southeast Asia’s premier tech startup, Seize is teaming up with USDC stablecoin issuer Circle to pilot a web3 pockets inside its super-app.
The announcement got here on Sept. 14, with Circle revealing that these new providers can be accessible to Seize customers in Singapore through the newly launched “Seize Web3 Pockets”.
This integration with Circle’s recent web3 providers platform inside the Seize app goals to facilitate conventional corporations embracing stablecoins, digital belongings, and good contracts.
Eligible customers of the Seize app now have the chance to determine a blockchain-enabled pockets the place they’ll earn rewards and collectibles alongside using non-fungible token (NFT) vouchers.
As a particular providing, the Seize web3 pockets is presenting SG Pitstop Pack NFT vouchers at famend shops in Singapore, aligning with the forthcoming F1 Singapore Grand Prix occasion.
This growth follows final week’s buzz when trade spectators observed a web3 tab that includes an built-in cryptocurrency pockets on the Seize app’s interface on Sept. 7.
Circle’s co-founder and CEO, Jeremy Allaire, shared his enthusiasm on X (beforehand Twitter), highlighting the promising development of outstanding web2 corporations embracing blockchain expertise.
“Piloting our expertise with Seize’s clients brings us nearer to realizing the complete potential of accountable digital belongings innovation.”
Jeremy Allaire, co-founder and CEO of Circle
Established in 2012 in Malaysia, Seize initially entered the market as a ride-hailing app, giving stiff competitors to Uber within the area. Over time, it has diversified its choices, evolving right into a super-app with providers encompassing cost options (GrabPay), package deal supply, ticket bookings, insurance coverage, and extra.
At the moment headquartered in Singapore, Seize operates in eight nations throughout Southeast Asia, boasting over 25 million month-to-month customers and dominating the ride-hailing and meals supply sectors in Singapore.
At the moment, Seize is valued at roughly $14.9 billion and is considered one of SEA’s most notable startups.
Circle’s growth in Singapore
The collaboration between Circle and Seize Singapore signifies an extra step in Circle’s regular progress inside the nation.
Earlier in June 2023, Circle secured a Main Cost Establishment license (MPI) from the Financial Authority of Singapore (MAS) following the official inauguration of its workplace in Could.
This transfer was succeeded by a partnership with Tribe, a government-backed blockchain ecosystem developer in Singapore, fostering native Web3 growth.