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Standard Chartered supports DeCard for spending with stablecoin
Standard Chartered collaborates with DCS Card Centre to launch DeCard, a stablecoin spending card for real life, starting in Singapore before expanding to other markets. The bank will provide virtual accounts and API to support payments, allowing for instant transaction verification and processing.
DeCard provides D-Vault to track and pay with cryptocurrency, while connecting to the Web3 ecosystem to bring additional benefits to users. The initial service is managed and limited to Singapore.
According to Standard Chartered, this collaboration is part of the strategy to connect TradFi and DeFi, promoting safe and transparent on-chain payments. In the context of global stablecoin supply exceeding 301 billion USD, the DeCard card – supporting USDC and USDT on the Polygon network – is seen as a convenient payment solution, helping to expand the application of cryptocurrency into the real economy.