DCS Card Centre combines Web3 and stablecoins to revolutionize payment and cards, as they are faster, borderless, and controlled digital transactions.

DCS Card Centre Pte. Ltd is entering the Web3 arena and eagerly adopts the changes that transform the payments and cards market. Previously known as Diners Club Singapore, the company has ventured into offering services that do not revolve around as specific a service as card issuing by integrating the industry of digital assets and offering payment options based on blockchain technology.

CMO Dayna Leng told Asian Banking & Finance about the rising power of fintechs, super apps, and digital banks. She stated that wallets like GrabPay, ShopBack Pay, and BNPL are becoming a key topic in establishing a new standard within the payments and cards ecosystem.

Recently, DCS has introduced a card with the use of which they can transform the stablecoins into Singapore dollars instantly. The innovation enables users of Web3 to use their resources to transact purchases directly or access cash in physical ATMs, whereas the merchants continue to operate using fiat.

Leng stressed the transformation of payments and cards, whereby there has been a change from traditional finance to interoperable ecosystems, which are driven by smart contracts and programmable tokens. Other banks such as JPMorgan and DBS are also trying out this integration.

With no digital tool left in grey, DCS believes that regulation is indispensable to implement a responsible development in the payments and cards area.