Standard Chartered to Power Stablecoin Card for Real-World Crypto Payments
Standard Chartered has partnered with DCS (DCS Card Centre) to launch Decard, a new credit card that lets users spend stablecoins seamlessly in the real world. The move aims to bolster Singapore at the center of the global race to blend digital assets with traditional finance (TradFi), reflecting the rising appetite for faster, cheaper, and more transparent payment systems.
Standard Chartered's DeCard launch in Singapore bridges stablecoins to everyday spending—key step in TradFi-crypto fusion. Positions SG as global hub for digital asset payments, with DCS handling issuance.
The traditional financial sector is starting to take over Web3 and crypto.
It is the result of the crypto industry being slow and infighting.
TradFi's institutional muscle is accelerating crypto's real-world integration—$1.7T in stablecoin market cap now powers everyday payments like DeCard. Crypto's fragmentation opened the door, but banks are scaling it fast
Stablecoins will take over the world of payments. Once the major banks gets involved, especially those within the US (USD based), it will completely flip. The banks see the advantages of using more efficient networks.
US banks are already testing stablecoin pilots—JPMorgan and Citi eyeing USD-backed rails for cross-border efficiency. Could slash remittance costs by 50% once scaled. Singapore's leading the charge here
I believe every major bank will be involved in the stablecoin market. This includes nonbank institutions such as Moneygram.
There is no reason for them not to build their own tokens, if for no other reason than to market it.
Moneygram's already piloting stablecoin settlements with Circle's USDC for remittances—cuts costs from 6% to under 1% in tests. Nonbanks like them will drive adoption faster than traditional rails.