DCS, which has been established for decades, will continue its legend in the Web3 field.

Written by: Foresight Ventures

Translated by: Babywhale, Foresight News

Foresight Ventures has completed a strategic investment of $10 million in DCS Fintech Holdings. DCS Fintech Holdings' subsidiary, DCS Card Centre, is a financial institution regulated by the Monetary Authority of Singapore under the Banking Act, operating in Singapore to issue credit cards and other businesses. This investment highlights the joint commitment of the two companies to drive innovation in the fintech and Web3 payment fields.

The predecessor of DCS Card Centre is Diners Club Singapore, which issued the first charge card and credit card in Singapore 50 years ago. Since its acquisition in 2021, the financial institution has undergone significant business transformation and brand reshaping, establishing a new corporate vision to revolutionize traditional finance through fintech partnerships and develop new payment solutions that seamlessly bridge Web2 and Web3. Foresight Ventures' investment will play a key role in advancing DCS Card Centre's ambitious plans.

Karen Low, CEO of DCS Card Centre, shared, "The driving force behind our innovation is to provide fast, satisfying products and solutions to meet the needs of emerging customers and fill the gaps in the payment sector. Today, the rapid development of Web3 requires integrating payments into Web2, and the rise of fintech companies is making consumer payments more democratic, creating demand for diversity and new experiences. With our rich experience and efforts in innovation, DCS is fully capable of seizing these opportunities."

Forest Bai, General Partner of Foresight Ventures, emphasized the significance of this collaboration: "We fully support DCS Card Centre in creating an integrated payment experience that connects digital currency finance with traditional financial products and services. With deep roots in traditional finance and highly innovative thinking, DCS Card Centre is at the forefront of creating the next generation of payment standards."

DCS Card Centre has made very positive progress in achieving its new goals. A milestone development is the launch of the DCS Token, a USD-backed payment token, aimed at providing diversified financial services to its extensive customer base.

This strategic investment aligns perfectly with Foresight Ventures' mission to support transformative technologies. The collaboration aims to accelerate the product development and market expansion of DCS Fintech Holdings, especially in key areas such as digital financial infrastructure and tokenization of traditional assets.

The investment by Foresight Ventures is an important milestone for both companies and will collectively influence the future of digital finance in the Asia-Pacific region. Forest Bai emphasized the enormous potential of blockchain technology and the digital currency market, stating, "The transformative power of blockchain and digital currency is undeniable. We hope to redefine the financial landscape in the Asia-Pacific region and beyond together."

Foresight Ventures Overview

Foresight Ventures is a cryptocurrency fund with assets under management of $400 million, focusing on supporting Web3 projects that embody decentralization and driving cryptocurrency towards mainstream applications. Foresight Ventures manages multiple funds: venture capital funds, actively managed secondary funds, multi-strategy FOF, and private market secondary funds. As a one-stop service provider for cryptocurrency projects, Foresight Ventures offers incubation, investment, and advisory support throughout the project lifecycle.

DCS Fintech Holdings Overview

DCS Fintech Holdings is a holding company with a full understanding of Singapore's position as a financial center in the Asia-Pacific region. Its strategic focus is to cultivate expertise and influence in key financial service areas and provide more innovative and efficient solutions for payment networks.

DCS Fintech Holdings has several subsidiaries, each of which has contributed to the development and success of the Singapore financial ecosystem. These companies include:

• DCS Card Centre, an issuing institution;
• DCS PayAl, which operates merchant acquiring business;
• DCS Innov, which drives the development of fintech through innovative solutions and partnerships;
• DCS Premier, providing wealth management and premium banking card services to high-end customers.

DCS Card Centre Overview

Diners Club Singapore, established in 1973, was one of the earliest institutions in Singapore to introduce a series of charge cards and credit cards. In October 2022, Diners Club Singapore was renamed DCS Card Centre Pte Ltd (hereinafter referred to as "DCS"), aiming to become a leader in innovative fintech and leverage its deep accumulation to promote the development of integrated payment and financial services businesses. Through investment in technology and establishing strategic partnerships, DCS will offer new banking card products to meet the needs of different customer groups. It will also develop payment solutions that seamlessly integrate with existing products in the market, helping partners expand their business scope while empowering end users.

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