Standard Chartered has entered a strategic partnership with DCS Card Centre to support DeCard, a new credit card designed to let users spend stablecoins for everyday purchases. The rollout will begin in Singapore before expanding globally, marking a significant step in merging traditional banking systems with the growing world of digital assets.
According to an official statement, Standard Chartered will provide transaction banking and financial market services for DeCard’s operations. The bank will manage cardholder top-ups, account administration, and settlements in both fiat and stablecoins. Beyond these services, it will also oversee DeCard’s treasury and liquidity management, ensuring smooth currency conversion and mitigating financial risks associated with volatile digital assets.
DeCard, operated by DCS—formerly known as Diners Club Singapore—functions like a regular credit card, allowing users to spend stablecoins while managing their spending and repayments through the D-Vault system. With more than five decades of card-issuing experience, DCS is pivoting toward Web3 and digital finance to meet the needs of modern consumers. Standard Chartered’s proprietary technology enables DCS to create virtual accounts for every cardholder, ensuring accurate payment tracking and rapid reconciliation across multiple channels.
Dhiraj Bajaj, Global Head of Transaction Banking FI Sales at Standard Chartered, said the collaboration highlights the bank’s commitment to connecting traditional finance (TradFi) with decentralised finance (DeFi). He noted that the bank’s continuous investment in advanced financial infrastructure has positioned it as a “trusted partner bridging TradFi to DeFi.” Joan Han, Chief Commercial Officer of DCS, added that the partnership will help bring “secure, transparent, and efficient stablecoin payments to the mainstream,” reshaping how people use digital assets responsibly in their daily lives.
Singapore’s progressive regulatory landscape has made it a hub for stablecoin innovation. The Monetary Authority of Singapore (MAS) regulates stablecoins under the Payment Services Act and introduced detailed rules in 2023 for those pegged to major currencies such as the U.S. dollar and the Singapore dollar. Since then, major firms like OKX and Paxos have launched licensed stablecoin payment services in the country, reinforcing Singapore’s role as a testing ground for regulated digital-asset adoption.
The introduction of DeCard represents a growing effort to make crypto payments accessible beyond niche circles. By combining strict oversight with innovation, Singapore offers a model for how digital assets can evolve into everyday financial tools—bridging the gap between blockchain technology and traditional commerce.
