Standard Chartered’s partnership with DCS Card Centre to introduce DeCard—a credit card powered by stablecoins—marks a pivotal step in merging blockchain technology with mainstream financial systems. The initiative, Singapore’s first of its kind, underscores the nation’s emergence as a regional hub for digital asset innovation under a strong regulatory framework. Beyond signalling fintech progress, the collaboration reveals how established banks like Standard Chartered are reshaping their role in the digital economy, bridging the gap between cryptocurrencies and conventional finance through mature liquidity and treasury management infrastructure.

Standard Chartered Singapore Launches First Stablecoin Credit Card

Standard Chartered has taken a defining step into the future of payments by unveiling DeCard, a new credit card that enables users to spend stablecoins as effortlessly as traditional currency. Developed in partnership with DCS Card Centre (DCS), the venture positions Singapore as a trailblazer in digital asset payment systems, showcasing how established financial institutions and fintech pioneers can coexist within a regulated environment.

The card’s introduction signifies Singapore’s first stablecoin-based credit card, adding practical utility to digital currencies once confined largely to trading or investment portfolios. Through DeCard, daily spending—from retail transactions to hospitality bookings—can now occur seamlessly via blockchain-backed payment rails.

As the project’s principal banking partner, Standard Chartered is responsible for providing core services such as transaction banking, top-up processing, and both fiat and stablecoin settlements. Additionally, the bank will oversee the treasury, liquidity pools, and foreign exchange hedging operations through its highly integrated Financial Markets unit—ensuring smooth conversion and risk management behind the scenes.

Bridging Digital and Traditional Finance

At the heart of DeCard’s value proposition lies its ability to integrate stablecoin functionality with traditional credit infrastructure, eliminating the friction that typically accompanies blockchain transactions. The card operates via a proprietary D-Vault system, which automates the tracking of digital asset balances, manages payments, and ensures near-instant crypto-to-fiat settlement when purchases occur.

Standard Chartered’s virtual account infrastructure and API connectivity play a central role in enabling this functionality. DCS will assign unique virtual accounts to each DeCard user, simplifying identification and reconciliation of incoming payments across diverse networks. This system supports real-time settlement and transparent recordkeeping, all while maintaining compliance with established financial norms.

Dhiraj Bajaj, Global Head of Transaction Banking Financial Institutions Sales at Standard Chartered, emphasized the strategic alignment with the bank’s broader digital asset agenda: “This partnership reflects our ongoing mission to equip fintech innovators with advanced banking tools while supporting clients navigating the evolving digital asset ecosystem.”

Joan Han, Chief Commercial Officer of DCS, framed the initiative as a milestone for payment transparency and trust. She noted that DeCard represents “a breakthrough in bringing secure, efficient, and transparent stablecoin payments into daily financial behavior,” setting new standards for responsible digital asset adoption worldwide.

Singapore’s Regulatory Advantage

The DeCard initiative draws strength from Singapore’s progressive regulatory environment, which has championed responsible digital finance innovation. Since the Monetary Authority of Singapore (MAS) introduced its Single Currency Stablecoin Framework in 2023, the local market has been primed for precisely this kind of development.

The framework—expected to take full effect by mid-2026—requires one-to-one reserve backing for all regulated stablecoins and specifies strict issuer limitations. It focuses on stablecoins pegged to either the Singapore dollar or one of the G10 currencies. By laying this foundation early, Singapore effectively created a safe experimental zone for projects like DeCard, ensuring stability and consumer confidence as blockchain becomes more integrated with mainstream finance.

This strategic alignment gives Standard Chartered and DCS a first-mover advantage, illustrating how rigorous oversight can fuel practical innovation, not stifle it.

DCS Card Centre’s Transformation and Legacy

DCS Card Centre, previously known as Diners Club Singapore, brings more than five decades of credit and payment experience to this venture. Its 2022 rebranding signaled a decisive pivot away from the legacy credit model and toward a fintech-forward identity, emphasizing solutions in digital payments and blockchain-enabled platforms.

The DeCard collaboration serves as an extension of that transformation—fusing traditional expertise in card issuance with the agility and innovation demanded by Web3 technology. By harmonizing this institutional trust with new technological frameworks, DCS has effectively redefined its position within Singapore’s competitive financial landscape.

Global Expansion and Wider Acceptance for Stablecoins

The pilot phase of the DeCard program begins in Singapore this month. A full-scale rollout is projected for the first half of 2026, followed by expansion into international markets—potentially across regions with high digital asset adoption and open regulatory frameworks in Europe and the Middle East.

For investors, the launch signals Standard Chartered’s confident stance in integrating digital currencies with core retail finance, a trend that could redefine how liquidity, settlements, and credit issuance operate in the years ahead. It also reflects Singapore’s strategic ascent as Asia’s digital finance nerve center, where regulation, innovation, and institutional trust intersect.

By embedding stablecoin technology directly into consumer finance, Standard Chartered and DCS are demonstrating that crypto adoption need not replace traditional banking—it can reinforce it. DeCard’s timing and structure make it a compass point for global financial institutions seeking to bridge legacy systems with blockchain-era capabilities.