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 reportedly also oversee treasury, liquidity, and foreign exchange hedging through its Financial Markets division.
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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.
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The partnership highlights a growing trend in Asia’s financial sector, where regulated banks are deepening their engagement with digital assets. For Standard Chartered, the DeCard deal is a part of an ongoing strategy to connect the traditional financial system with blockchain-powered innovations — without compromising transparency or compliance.
Meanwhile, the Bank of England has launched a public consultation on a proposed regulatory framework for stablecoins, focusing on sterling-denominated tokens classified as “systemic stablecoins.”
These digital assets are considered widely used for payments and, according to the central bank, could pose risks to financial stability if left unregulated. The Bank warned that excessive reliance on such stablecoins might undermine public confidence in the UK’s monetary system and payment infrastructure.
Under the proposal, stablecoin issuers would be required to hold at least 40% of their liabilities as unremunerated deposits at the Bank of England. The remaining 60% of issuers’ reserves could be invested in short-term UK government debt.
