DeCard Visa Card: Bridging Traditional Finance and Digital Assets in Singapore
DCS Card Centre and Visa have introduced the DeCard Visa card, a regulated micro credit card that bridges traditional finance with digital assets. The card, launched in Singapore, allows users to convert digital assets into fiat currency seamlessly.
The DeCard Visa card offers a range of benefits. It has no annual fees, and ATM withdrawal fees are capped at SGD5 or 1%, whichever is lower. Cardholders can withdraw cash at ATMs worldwide, excluding Singapore, and fund their card via SGD transfers or select digital assets through licensed partners.
The card's competitive single conversion costs from digital assets to SGD eliminate additional FX fees for local spending, potentially saving users over 50% on FX transaction fees compared to typical industry rates. This aligns with the card's 'spend-what-you-have' model, giving users greater control over their spending.
The card can be funded with Singapore dollars (SGD) and digital assets like USDT and USDC. This flexibility caters to the growing adoption of digital assets in Singapore, with ownership rising to 26% of residents in 2024. Over half of digital asset owners in Singapore have used them for payments, and 67% plan to increase their usage.
The DeCard Visa card, with its competitive fees, flexible funding options, and alignment with digital asset usage trends, is poised to appeal to Singapore's growing digital asset community. Its regulated status ensures user protection, making it a viable option for those seeking to merge traditional finance with digital assets.
