The card allows users to fund it using either fiat currency or select digital assets, focusing on maintaining personal financial control.
Merging Web3 Assets with Traditional Payments
In 2024, data from the Financial Times indicate that 26% of Singaporeans own digital assets, a rise from previous years. Over half have used these assets for payments, and more than two-thirds plan to increase their usage. Despite this growth, contactless cards remain the preferred payment method, accounting for 34% of all transactions.
The prepaid card market alone is anticipated to exceed USD 13 billion by 2028. The DeCard Visa card aims to serve consumers familiar with digital assets without requiring broader adoption from those outside the Web3 ecosystem. Users can convert supported stablecoins into fiat through Digital Payment Token service providers licensed by the Monetary Authority of Singapore (MAS). These partners handle token-to-fiat exchanges in compliance with local regulations.
By leveraging Visa’s global acceptance network, cardholders can make payments at over 150 million merchant locations worldwide. The card supports Google Pay and Apple Pay, and users can also withdraw cash internationally, except within Singapore.
According to DCS representatives, the card was developed to provide greater oversight of finances while complying with regulatory requirements. This partnership with Visa helps integrate digital assets into a broader payments infrastructure while still operating under Singapore’s financial rules and licensing framework.
Visa officials highlighted that this card marks a step toward merging the use of digital assets with conventional financial systems, serving as an enabler for consumers to utilize stablecoins in everyday transactions more easily.