Standard Chartered partners with DeCard for stablecoin payments

Standard Chartered partners with DeCard for stablecoin payments

Standard Chartered has partnered with DCS Card Center to support DeCard, a new card for using stablecoins in the real economy. The partnership will begin in Singapore and then expand to other key markets.

Standard Chartered not only meets the convenience of DeCard, but also the demand for payments through regulated stablecoins. The card brand tapped one of the world’s largest banking institutions to support on-chain payments.

Singapore is already showing demand for electronic payment solutions that bridge the gap between banks and cryptocurrencies.

This partnership is in line with our continued commitment to providing banking solutions to innovative fintech partners and is central to our strategy to support clients as they navigate the evolving digital asset space. By investing in our platform, capabilities, and solutions, we can become your trusted banking partner for bridging TradFi to DeFi.” said Dhiraj Bajaj, Global Head of TB Financial Sales at Standard Chartered.

Standard Chartered supports the adoption of cryptocurrencies. Bill Winters, CEO of the bank, said: talked About Possibility to move all financial transactions on-chain.

Standard Chartered to offer cryptocurrency-based card bank payments

Standard Chartered will partner with DCS using virtual accounts and APIs to create virtual accounts for DeCard holders. The card instantly confirms and clears deposits across multiple channels. On the user side, the card provides a seamless experience even when multiple transactions are settled.

The bank also handles all banking-side services and may also connect to financial markets. This service is regulated and limited to Singapore holders after initial launch.

The DeCard side offers D-Vault for cryptocurrency payments and payment tracking. DCS Club will evolve from Diners Club Singapore and grow into the next generation payment gateway. Connect your card to Web3 for additional incentives and experiences.

Stablecoins are growing in popularity, but finding a reliable bank is still important. Crypto-friendly banks are still rare, so Standard Chartered is promoting the introduction of crypto cards.

As the global stablecoin supply is currently in excess, $301 billioncards are still one of the most convenient use cases, but with added regulation and security.

DeCard focuses on stablecoins

DeCard remains focused on: stable coin As a low-risk crypto asset ownership option. Card issuers have indicated that stablecoin positions could be key to securing reserves, especially during times of market turmoil.

DeCard is one of the few card issuers using Polygon, one of the earliest L2 chains to scale Ethereum interactions. The card issuer has also expanded its selection of stablecoins, recently adding USDC and USDT. Your DeCard account is also linked to your Polygon wallet, allowing you to recognize your balance directly when owning stablecoins.

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