Standard Chartered has announced a significant partnership with DCS Card Centre to support the launch of DeCard, an innovative credit card designed to facilitate the everyday use of stablecoins. The initial rollout of DeCard will commence in Singapore, with plans for future expansion into additional markets.
According to an official statement, Standard Chartered will provide comprehensive transaction banking and financial markets services to cater to DeCard's expanding user base in Singapore. These services encompass crucial functions such as processing cardholder top-ups, managing accounts, and handling settlements for both fiat currencies and stablecoins.
Beyond standard banking provisions, Standard Chartered will also assume responsibility for the card’s treasury operations, ensuring adequate liquidity, and managing currency risk exposure.
Understanding DeCard's Functionality
DeCard, under the management of DCS, which was formerly known as Diners Club Singapore, operates similarly to a traditional credit card. It empowers users to spend stablecoins for daily purchases while providing a system for tracking balances and managing repayments through its D-Vault platform. DCS brings over five decades of experience in card issuance and has recently pivoted its strategic focus towards Web3 and digital payment solutions.
Leveraging Standard Chartered's technological infrastructure, DCS will be able to establish virtual accounts for each DeCard holder. This feature is designed to simplify transaction monitoring across various channels and expedite the reconciliation process for individual cardholders.
Dhiraj Bajaj, Global Head of TB FI Sales at Standard Chartered, highlighted the significance of this collaboration, stating that it underscores the bank's commitment to supporting pioneering fintech entities. He added, "Our investments in our platforms, capabilities and solutions allow us to be the trusted banking partner bridging TradFi to DeFi."
Joan Han, Chief Commercial Officer at DCS, expressed enthusiasm for the partnership, noting that it "enables us to bring secure, transparent, and efficient stablecoin payments to the mainstream, setting a new benchmark for how digital assets can be used responsibly in everyday life."
Singapore: A Flourishing Ecosystem for Stablecoins
Singapore has emerged as a prominent center for regulated cryptocurrency activities, distinguished by its clear and comprehensive regulatory framework for stablecoins. The Monetary Authority of Singapore (MAS) classifies stablecoins as "digital payment tokens" under the Payment Services Act. In August 2023, the MAS introduced specific regulations for single-currency stablecoins that are pegged to the Singapore dollar or other major global currencies such as the U.S. dollar and the euro.
Following the implementation of these regulations, a number of companies have introduced stablecoin payment services. For instance, OKX launched OKX Pay in September 2025, enabling users to make payments using USDC or USDT at merchants integrated with GrabPay.
In July 2025, Paxos Digital Singapore Pte. Ltd., a subsidiary of the blockchain company Paxos, obtained approval from the MAS to operate as a Major Payment Institution specifically for digital payment tokens.
Advancing Beyond Niche Applications
The introduction of DeCard, alongside other emerging stablecoin projects, signifies a broader trend of digital assets transitioning from specialized markets into mainstream adoption for everyday financial activities.
With its well-defined regulations and robust oversight framework, Singapore provides a secure environment for both businesses and consumers to engage with these innovative financial services. This combination of technological advancement and regulatory clarity positions the country as a leading example of responsible growth in digital finance, fostering exploration of new payment and money management methods by both domestic and international participants.