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.

Join stablecoin builders in London at the fmls25

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.

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.

You may also like: UK Court Hands Nearly 12-Year Sentence in Massive £5B Bitcoin Case: Report

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.

This article was written by Jared Kirui at www.financemagnates.com.

—

— CONTENT NOT MODERATED BY G6

— Please be careful with this content. If you don’t think it should be here, please get in touch with us at [email protected]