- Singapore-based payment firm dtcpay closed a $25 million Series A funding round, anchored by Japanese conglomerate SBI Group.
- The round was led by Vertex Ventures Southeast Asia & India with participation from Genedant Capital and existing investor Kwee Liong Tek.
- dtcpay focuses on stablecoin payments and offers a VISA card usable at over 150 million merchant locations worldwide.
- The company holds regulatory licenses in Singapore, Luxembourg, Hong Kong, Australia, the United States, and Canada.
Singapore payment company dtcpay completed its $25 million Series A funding round, further anchored by Japanese financial conglomerate SBI Group after an initial close led by Vertex Ventures Southeast Asia & India in April, the company said on Friday. The round also drew participation from Genedant Capital and existing investor Kwee Liong Tek.
The investment reflects institutional confidence in dtcpay‘s vision of making stablecoins as seamless and accessible as traditional financial services. “We did not raise this round to sustain what we have built. We raised it to fundamentally change how money moves across borders,” said Alice Liu, founder and CEO of dtcpay.
dtcpay made early moves in the stablecoin payments space, and now its Visa card enables spending across both fiat and stablecoins at more than 150 million merchant locations worldwide. Previously, the company launched a payment system for in-store and online payments in 2023, before phasing out support for cryptocurrencies like Bitcoin in 2024 in favor of stablecoin-only transactions.
Vertex Ventures Southeast Asia & India is part of Vertex Holdings, a wholly owned subsidiary of Temasek Holdings, and brings experience scaling technology companies. SBI Group operates across banking, securities, insurance, asset management and digital assets.
Genedant Capital is a Singapore-based fund management firm licensed by the Monetary Authority of Singapore with over $2 billion in assets under management and advisory. dtcpay itself is licensed by the Monetary Authority of Singapore and holds an Electronic Money Institution license in Luxembourg, authorizing regulated payment services across the European Economic Area, as well as licenses in Hong Kong, Australia, the United States and Canada.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
