DCS Names Alibaba Veteran as Executive Chairman
DCS, formerly known as Diners Club Singapore, appointed a seasoned payments leader as executive chairman, marking the most senior leadership addition in the group’s history and signalling its ambition to reshape cross-border and cross-rail payments from Singapore.
The appointment places Jia Hang at the helm of DCS Group – encompassing DCS Fintech, its global business, and DCS Card Centre, its Singapore-based core entity, according to a media release issued on Tuesday.
His mandate includes strengthening DCS’ role as a trusted payments institution regulated under the Banking Act and advancing its vision to create seamless, interoperable payment flows across fiat and blockchain rails.
The move positions DCS to accelerate its dual-rail strategy across traditional finance and blockchain ecosystems at a time when regulatory trust and infrastructure readiness are becoming critical differentiators in Asia’s digital finance landscape.
Expanding Infrastructure for TradFi-Web3 Convergence
Jia Hang will oversee corporate direction, governance, and business development, with a focus on enhancing DCS’ dual-rail infrastructure and improving customer experience.
According to the media release, he is tasked with deepening the company’s collaborations with regulators and partners to deliver secure payment solutions for consumers and businesses.
Global Payments Experience
Reflecting on his appointment, he said, «At every stage of my career, I’ve been guided by one enduring question – how can payments connect the world more inclusively, seamlessly, and securely?»
He added that DCS is uniquely positioned with the regulatory trust and operational discipline needed to «reimagine that future from Singapore outward», outlining his aim to build a next-generation payments network combining the reliability of traditional finance with the agility of emerging technology.
Momentum Built on Recent Milestones
Jia’s arrival follows major milestones in DCS’ transformation roadmap. Last month, the company completed its largest asset-backed securitization programme – a S$450 million transaction achieving AAA ratings on senior tranches.
Earlier this year, DCS launched the DeCard Visa card, enabling stablecoin-to-fiat conversion for everyday transactions and extending real-world utility to Web3 users.
Career Defined by Asia’s Leading Digital-Commerce Platforms
The new executive chairman brings extensive experience across major Asian and global payments ecosystems. He previously served as global head of payment and financial services at Alibaba International Digital Commerce Group.
Prior roles include senior leadership posts at Ant Group, where he led the expansion of Alipay+ across Southeast Asia and Europe, as well as nearly a decade at China UnionPay and UnionPay International, where he launched and built UnionPay USA.
Evolution Into a Next-Generation Global Payments Provider
Founded more than fifty years ago as Diners Club Singapore, DCS has evolved into a Singapore-licensed financial institution with dual capabilities in card issuing and merchant acquiring.
Its infrastructure supports fiat-funded and stablecoin-funded payments via regulated partners and works across global schemes, including Visa, Mastercard, UnionPay, and Diners Club.
The group continues to position itself at the intersection of traditional and decentralised finance, aiming to deliver secure, borderless payments with real-world utility for businesses and consumers.
