Standard Chartered and DCS Launch DeCard, Singapore’s First Stablecoin Credit Card
The post Standard Chartered and DCS Launch DeCard, Singapore’s First Stablecocom. Key Takeaways: Standard Chartered and DCS Card Centre have introduced DeCard, a credit card on the stablecoin platform that is released in Singapore. The card allows spending in merchants of the USDC and USTC using the banking system offered by Standard Chartered. The project will intersect traditional finance (TradFi) with Web3, and global markets will become the next step. As one of the biggest moves towards mainstream crypto adoption, Standard Chartered collaborated with DCS Card Centre (previously Diners Club Singapore) to introduce DeCard, a stablecoins-powered credit card. The product allows users to make payments on goods and services with digital assets such as USDC or USDT equivalent to a normal card transaction. Making Stablecoins Spendable Money with DeCard The design of DeCard is intended to ensure that the stablecoins can be applicable in everyday transactions even without the need of complex remittances. The system removes the issue of price volatility and provides close-to-real-time payments in a fully transparent manner. DCS executives state that the partnership is a combination of trust of traditional banking and effectiveness of blockchain that will establish a safe and compliant bridge between the two worlds. DeCard provides users with the comfort of spending crypto like a credit-card and the merchant with a local currency without the need to deal with digital assets, which is achieved by having stablecoins embedded into a normal credit-card format. Read More: New Zealand Bans Crypto ATMs Nationwide to Strengthen AML Enforcement Is Singapore Leading the Rollout? Singapore has a well-developed fintech ecosystem and a clear regulatory framework, which has made it the place.
