It was recently reported by DCS Card Centre (DCS) that its payment token DCS Tokens (DUS), which will initially be deployed and issued on the PlatON Network, has officially gone live.
DCS Tokens Released As a Result of PlatON and DCS Card Centre Collaboration
This issuance represents a significant milestone in the realm of blockchain payments and shows the commitment of PlatON and DCS to advancing the payment industry through the use of cutting-edge technology. In order to ensure that users may conduct transactions in a quick and secure network environment without worrying about privacy and data security issues, the PlatON Network, which is renowned for its high security and scalability, will provide a strong technical foundation for the issuing of DUS.
After the Monetary Authority of Singapore (MAS) unveiled the Single-Currency Stablecoin (SCS) Regulatory Framework, DCS became the first financial institution in Singapore to introduce a project focused on bridging the transitions between Web2 and Web3 ecosystems.
The function of DCS Tokens
The merger of digital assets and conventional finance that DCS Tokens (DUS) represent is singular. The only way to redeem DCS Tokens for cash is to return them to DCS as card spend limitations. DCS Tokens are tokenized from credit card transactions that DCS processes. These tokens serve as a secure link between Web3 and card payments made by people all over the world in Web2 and are intended to maintain their value (1USD:1DUS).
A financial organization with a license to issue credit and charge cards, DCS is controlled by the Monetary Authority of Singapore (MAS) under the Banking Act. The groundbreaking integration and innovation in the realm of next-generation digital payments will continue to be led by DCS.
About PlatON Network
In order to safeguard user privacy while doing calculations, PlatON is an open financial infrastructure. In the Web 3 age, LatticeX Foundation developed and is actively supporting PlatON, which aims to be a significant blockchain platform. With reliability and performance on par with the financial system, it makes it possible to handle digital assets in compliance with privacy rules.