Standard Chartered, a bank with operations in more than 70 countries, announced a partnership with DCS Card Center to launch a credit card that allows you to spend cryptocurrencies on everyday purchases.
Standard Chartered will manage the card’s treasury, liquidity and currency coverage. It also provides transactional banking and financial markets services for recharges and settlements in fiat money and stablecoins, according to its release official.
The launch is in Singapore, with international expansion plans to key marketsalthough no countries, deadlines or specific strategies are specified.
The British bank emphasizes supporting user growth, but prioritizes local implementation first. To do this, it relies on the strategy of the local fintech DCS, formerly known as Diners Club Singapore, specialized in the issuance of credit and debit cards.
“This alliance responds to the growing demand for regulated solutions,” said Dhiraj Bajaj, Global Head of Sales at Standard Chartered. “It is key to our strategy to connect TradFi with DeFi,” he added.
For her part, Joan Han, Commercial Director of DCS, pointed out that the launch of the credit card “will establish a new standard for the responsible use of cryptocurrencies.”
The launch of DeCard joins an emerging global trend. As CriptoNoticias has reported, the market has seen a proliferation of credit cards with support for cryptocurrencies. This suggests a high and growing demand from users. They seek to integrate their digital assets into daily spending, a trend that is driving traditional financial institutions to innovate.
Standard Chartered has long shown a proactive interest in the digital asset ecosystem. It has actively explored the integration of bitcoin and cryptocurrency related services. Its objective is to position itself as a reliable bridge between the traditional financial system and that of crypto assets.