This Partnership Will Allow Crypto Payments In Singapore

Triple-A has partnered with Singapore’s popular payment platform AXS to allow its users to make payments for various services in four cryptocurrencies.

Offering Crypto Payments In 550 Services

As a local news site reported on January 23, DBS Bank and Tower Capital Asia-backed AXS now allows users in Singapore to pay different bills in digital currencies thanks to its new partnership with Triple-A.

The partnership will allow these cryptocurrencies to be used as payment methods in 550 out of the 600 AXS offers, excluding only the 50 services related to credit cards and bank loans.

Triple-A will act as a gateway for these payments, as the crypto firm will instantly transfer the chosen token into Singapore dollars and then credit the sum to AXS’ bank account. The four options available for payments are Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC)

The payments are only available on AXS’ mobile app, also known as AXS m-station. In the app, users can pay bills, fines, prepaid card Top-up, eServices, marketplace payments, Government eServices, ticketing, Student services, and more, as their website shows.

Nonetheless, the partnership aims to extend the service to the 650 AXS machines (AXS Stations) in Singapore and the AXS website (AXS e-Station) in the second quarter of 2024.

Bringing Crypto To An Evolving User Base

As the report states, AXS has 650,000 monthly active users that pay at least one bill every month in the app. Chief Executive Officer of AXS Services, Chin Mun Chung, noted that “the collaboration allows the firm to cater to the evolving preferences of its diverse user base.”

Triple-A CEO Eric Barbier believes, according to the report, that the collaboration with AXS will provide users “with a new form of convenience and choice for their bill payments” and that AXS “by accepting digital currencies, can also benefit from reduced processing times and fees.”

Previously, Triple-A partnered with other companies to provide payments worldwide; the list includes iStudio, Farfetch, the Singapore Red Cross, financial platform Reap, and AsiaPay.

Most recently, in December 2023, it associated with STX Corporation to power digital currency payments for its B2B trading platform TROLLYGO. Similarly, earlier this month, Paycorp also teamed up with Triple-A to allow CryptoExpress App users to withdraw cash at over 3000 ATMs across South Africa.

BTC is trading at $40,037.7 in the hourly chart. Source: BTCUSDT on TradingView.com

Featured image from Unsplash.com, Chart from TradingView