Key facts
- Dtcpay secured $25 million in a Series A funding round.
- SBI Group participated in the funding round through its SBI Ventures Asset and SBI-NTU-Kyobo Digital Innovation Fund.
Singapore-based Dtcpay has closed a $25 million Series A funding round, with backing from Japan's SBI Group. The company plans to expand its merchant network and payment products, while SBI aims to develop a digital asset corridor between Japan and Southeast Asia.
The funding round signifies continued investor confidence in the stablecoin payment infrastructure sector and supports Dtcpay's growth in expanding its services across key Asian markets.
Singapore-based Dtcpay has successfully closed a $25 million Series A funding round, with significant backing from Japan's SBI Group. The investment, channeled through SBI's Singapore-based investment vehicles, aims to bolster Dtcpay's expansion efforts in its merchant network and payment product offerings. The company provides infrastructure for businesses and individuals to manage stablecoin and fiat currency transactions, including a real-time conversion system, merchant payment terminals, and a Visa card for spending stablecoins. Dtcpay holds key licenses from the Monetary Authority of Singapore and in Luxembourg. The funding round began in April with a $10 million tranche led by Vertex Ventures Southeast Asia & India, with participation from Genedant Capital and existing investor Kwee Liong Tek. SBI Group stated that the investment aligns with its strategy to develop a digital asset corridor between Japan and Southeast Asia.