This collaboration allows DCS cardmembers to top up their virtual accounts using digital assets through the DCS Cards App. The service, which is live at the time of writing, enables users to increase their D-Vault virtual account balance with digital assets, which can then be converted into SGD for use in card transactions, including bill payments.
Triple-A manages the conversion process, ensuring that the digital assets are immediately exchanged for fiat currency and reflected in the cardmember's account balance. As a licenced entity under the Monetary Authority of Singapore (MAS), Triple-A oversees the entire transaction, while DCS remains uninvolved with the digital assets, focusing solely on traditional fiat operations. DCS, a licenced issuer of credit and charge cards, operates under the MAS and complies with the Singapore Banking Act.
Representatives from Triple-A emphasised that the partnership enhances the integration between digital and traditional payment systems, making it easier for users to convert and spend their digital assets while maintaining a fiat balance. The demand for crypto-based payment solutions is on the rise globally. According to recent data cited by the company press release, over 24% of Singapore's population holds digital currencies. Triple-A’s involvement with various platforms, including Southeast Asia’s Grab super app, which also launched digital currency top-ups, further reflects the growing adoption of such solutions.
Representatives from DCS commented that the integration meets the needs of customers who are looking for an easy way to convert digital assets into fiat for everyday spending. They added that Triple-A’s regulatory compliance ensures that the feature operates securely, providing users with peace of mind.
In essence, through this integration, DCS users can avoid the volatility of digital currencies, as their top-ups are immediately converted into stable fiat currency.
Triple-A is a multi-licenced provider of digital currency financial services, enabling businesses to make and receive payments in both traditional and digital currencies. With 24/7 operations and a focus on reducing transaction costs, Triple-A offers volatility-free payment solutions, integrated into existing business processes while adhering to strict compliance standards.
DCS Card Centre, formerly known as Diners Club Singapore, has been operating since 1973. In October 2022, the company rebranded to DCS, positioning itself as a fintech expert in payment and financial services. Licenced by the MAS, DCS develops payment solutions that cater to diverse customer needs, seamlessly integrating with existing products to help expand business opportunities.
For more information about Triple-A, please check out their detailed profile in our dedicated, industry-specific Company Database.
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