KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
First-of-Its-Kind Integration with GrabPay
SINGAPORE (Sept 30): Cryptocurrency exchange OKX has rolled out a new service that allows its customers to pay with stablecoins at merchants on Grab’s payment platform, GrabPay, marking a first for the city-state.
The service, called OKX Pay, lets users make payments in USDC or USDT, which are then automatically converted into StraitsX’s XSGD — a Singapore dollar-backed stablecoin. Merchants ultimately receive the amount in Singapore dollars, ensuring a seamless experience on their end.
Growing Stablecoin Adoption in Singapore
The move underscores Singapore’s growing role as a hub for digital asset innovation and signals increasing mainstream acceptance of blockchain-based payments. Stablecoins, pegged to fiat currencies, are gaining traction globally for their low transaction costs and fast settlement speeds.
Earlier this year, Metro department stores also began accepting stablecoin payments, further expanding consumer adoption beyond niche crypto circles.
Industry and Market Outlook
The adoption of stablecoins in everyday transactions reflects shifting consumer habits and corporate strategies. With more companies globally exploring their own stablecoin projects, Singapore is positioning itself at the forefront of regulated, real-world crypto utility.
For OKX, the integration with GrabPay represents a significant step in embedding digital assets into everyday financial ecosystems, potentially boosting transaction volumes while enhancing user stickiness.
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