Standard Chartered has partnered with DCS as the main banking partner for DeCard, a next-generation credit card that facilitates seamless stablecoin spending in everyday transactions.
Under this collaboration, Standard Chartered’s virtual account and API connectivity will enable DCS—formerly Diners Club Singapore—to create virtual accounts for DeCard users. This will allow for immediate identification and reconciliation of incoming payments across various channels.
Joan Han, chief commercial officer at DCS, stated, “Standard Chartered’s banking expertise and robust infrastructure empower us to bring secure, transparent, and efficient stablecoin payments into the mainstream, setting a new standard for the responsible use of digital assets in daily life.” The initial rollout is taking place in Singapore, with plans for expansion into other key markets.
Dhiraj Bajaj, global head of TB FI sales at Standard Chartered, remarked, “This partnership aligns with our ongoing commitment to provide banking solutions for innovative fintech partners and is central to our strategy of supporting clients in the evolving digital assets landscape. Our investments in our platforms and solutions position us as a trusted banking partner bridging traditional finance (TradFi) to decentralized finance (DeFi).”
Standard Chartered has prior experience in the stablecoin sector, having provided cash management and custody services for the reserve assets backing StraitsX’s stablecoins. In February, the bank also established a joint venture with Animoca Brands and HKT to issue a Hong Kong dollar-backed stablecoin.