Singapore’s push to blend traditional finance with
blockchain technology gained a boost after Standard Chartered partnered with
DCS Card Centre to support DeCard, a new credit card designed for stablecoin
spending in everyday transactions.
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Banking Meets Blockchain
Under the partnership, Standard Chartered will act as
DeCard’s principal banking partner in Singapore, managing fiat and stablecoin
settlements as well as cardholder top-up processing and account management. The bank will also oversee treasury, liquidity, and
foreign exchange hedging through its Financial Markets division.
This collaboration is initially limited to Singapore
but is expected to expand to other major markets. The move comes as demand
grows for regulated digital-asset payment infrastructure that combines the
efficiency of blockchain with the stability of conventional finance.
“This partnership is in line with our continued
efforts to offer banking solutions for innovative Fintech partners and is
central to our strategy of supporting clients in navigating the evolving
digital assets space. Our investments in our platforms, capabilities and
solutions allow us to be the trusted banking partner bridging TradFi to DeFi,” commented
Dhiraj Bajaj, the Global Head of TB FI Sales at Standard Chartered.
Bridging TradFi and DeFi
Standard Chartered’s virtual account and API
infrastructure will enable DCS to assign unique virtual accounts to each DeCard
user. This feature allows real-time identification and reconciliation of
incoming payments, improving visibility and reducing operational friction.
The partnership underscores a growing trend in Asia’s
financial sector, where regulated banks are deepening their engagement with
digital assets. For Standard Chartered, the DeCard deal highlights its ongoing
strategy to connect the traditional financial system with blockchain-powered
innovations — without compromising transparency or compliance.
Expect ongoing updates as this story evolves.
This article was written by Jared Kirui at www.financemagnates.com.
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