Singapore Residents Embrace Digital Assets: DeCard Visa Card Launched
Singapore residents are embracing digital assets, with ownership reaching 26%. Over half use them for payments, and 67% plan to increase usage. To cater to this growing trend, DCS Card Centre and Visa have launched the DeCard Visa card, a regulated micro credit card that combines traditional finance with digital assets.
The DeCard Visa card offers users flexibility and control over their spending. It follows a 'spend-what-you-have' model, allowing cardholders to fund their account with Singapore dollars (SGD) and digital assets like USDT and USDC. Users can convert digital assets to SGD at competitive single conversion costs, eliminating additional FX fees for local spending.
Cardholders can make cash withdrawals at ATMs worldwide, except in Singapore, and fund their card via SGD transfers or select digital assets. The card has no annual fees, and ATM withdrawal fees are capped at SGD5 or 1% (whichever is lower).
The launch of the DeCard Visa card reflects the growing demand for digital asset integration in everyday finance. With no annual fees and competitive conversion costs, it offers users a convenient and cost-effective way to manage their money. Elsa Qiu, Chief Commercial Officer at DCS Card Centre, highlighted the partnership with Visa, enabling users to manage their funds on their own terms within Singapore's regulatory framework.
