DCS Card Centre Launches Payment Token DUS, to Be First Deployed and Issued on PlatON Network

DCS Card Centre (DCS) recently announced the official launch of its payment token DCS Tokens (DUS), which will be first deployed and issued on PlatON network.

This issuance marks a major breakthrough in the field of blockchain payments, demonstrating the determination of PlatON and DCS to use advanced technology to drive innovation in the payment industry. DCS has also become the first financial institution in Singapore to launch an initiative aimed at bridging the transitions between Web2 and Web3 ecosystems after the Monetary Authority of Singapore (MAS) introduced the Single-Currency Stablecoin (SCS) Regulatory Framework.

DCS is a financial institution governed by the Monetary Authority of Singapore (MAS) under the Banking Act and licensed to issue credit and charge cards. DCS will continue to lead the revolutionary innovation and integration in the next-generation digital payment field. 

DCS Tokens (DUS) represent a unique convergence of digital assets and traditional finance. DCS Tokens are tokenized from credit card transactions processed by DCS and can only be returned to DCS for redemption as card spend limits. These tokens are designed to provide value stability (1USD: 1DUS) and act as a trusted connection between Web3 and card payments globally in Web2.

PlatON Network, known for its high security and scalability, will provide a solid technical foundation for the issuance of DUS, ensuring that users can conduct transactions in a fast and secure network environment without worrying about privacy and data security issues.

The redemption of DUS for conversion into increasing a DCS cardholders’ spend limit or paying outstanding balances back to fiat is fast and seamless, as the transaction is executed instantly on D-Vault. D-Vault, a feature within the DCS Cards app, also allows bank transfers and conversion of digital assets. This innovation empowers users to seamlessly optimise and toggle between the convenience and efficiencies of Web2 and Web3.

In addition to co-issuing DUS, DCS will also explore a new ecosystem of financial services on Web3.0 with PlatON based on blockchain, privacy-preserving computation, artificial intelligence (AI), and other technologies, promoting innovation and development of blockchain technology in the field of payment and clearing. At the same time, DCS became the first heavyweight financial institution to sign up for TOPOS (an encrypted payment and clearing operation system based on PlatON), initiating and building the TOPOS ecosystem together with