Key Highlights
- DeCard works like a regular credit card, letting users pay with stablecoins in everyday life.
- Users can manage their spending and repayments through DCS’s D-Vault system.
- Standard Chartered’s tech creates virtual accounts for each user, making payments easier to monitor and reconcile.
Standard Chartered has teamed up with DCS Card Centre to back DeCard, a new type of credit card that allows people to spend stablecoins in everyday life. The DeCard rollout will initially begin in Singapore, with expansions in additional markets planned in the near future.
The official statement reads, “Standard Chartered will provide transaction banking and financial markets services to support DeCard’s growing user base in Singapore.” This includes cardholder top-up processing, account management, and both fiat and stablecoin settlements.
In addition to standard banking services, Standard Chartered will handle the card’s treasury functions, ensure sufficient liquidity, and oversee currency risk management.
How DeCard works
DeCard, managed by DCS, formerly known as Diners Club Singapore, lets users spend stablecoins like a regular credit card while tracking balances and repayments through its D-Vault system. DCS has over 50 years of card-issuing experience and has now shifted its focus toward Web3 and digital payments.
Standard Chartered’s technology will let DCS create virtual accounts for each cardholder, making it easier to track payments across channels and reconcile transactions quickly.
Dhiraj Bajaj, Global Head of TB FI Sales at Standard Chartered, said the partnership reflects the bank’s ongoing efforts to support innovative fintech players. “Our investments in our platforms, capabilities and solutions allow us to be the trusted banking partner bridging TradFi to DeFi,” he added.
Joan Han, Chief Commercial Officer at DCS, said the collaboration “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 growing hub for stablecoins
Singapore has become a hub for regulated crypto activity, with clear rules for stablecoins. The Monetary Authority of Singapore (MAS) treats stablecoins as “digital payment tokens” under the Payment Services Act and, in August 2023, introduced clear rules for single-currency stablecoins pegged to the Singapore dollar or major currencies like the U.S. dollar and euro.
Since then, several firms have launched stablecoin payment services, including OKX, which started OKX Pay in September 2025, allowing users to pay with USDC or USDT at participating GrabPay merchants.
In July 2025, Paxos Digital Singapore Pte. Ltd., a subsidiary of blockchain firm Paxos, received approval from the MAS to operate as a Major Payment Institution for digital payment tokens.
Going beyond niche spaces
The launch of DeCard and other stablecoin projects shows that digital assets are moving out of niche markets and becoming part of everyday life.
With clear rules and a strong regulatory framework, Singapore gives businesses and users the confidence to use these services safely. This mix of innovation and oversight makes the country a leading example of how digital finance can grow responsibly, while encouraging both local and international players to explore new ways of paying and managing money.
Also Read: Brazil Central Bank Tightens Crypto and Stablecoin Rules
