A financial institution that has been around for 50 years and is governed by the Monetary Authority of Singapore (MAS) under the Banking Act issues the DCS Token. The Token is designed to provide stability in value, where one DCS Token is equivalent in payment value to either 1 SGD or 1 US. This Token acts as a reliable connection between Web3 and card payments worldwide on Web2.
The DCS Token is available on two blockchains - DUS (PRC20) on PlatOn and DUSD (ERC20) on ETH. Its circulation is backed by core credit issuing and merchants acquiring the business of DCS Card Centre, with the same risk and compliance policies.
DCS Token can be off-ramped instantly onto a DCS card for global use. The application process for the card is simple and quick - users just need to submit their passport via the DCS Cards App. A virtual card is usually issued within minutes, and users can conveniently perform redemption within the same app.
DUSD has a total supply of 1,670,000.
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