Key facts
- Dtcpay has secured $25 million in its Series A funding round.
- SBI Group has joined dtcpay as a strategic investor.
- Vertex Ventures Southeast Asia & India led the initial tranche of the funding.
- Dtcpay enables spending in fiat and stablecoins at over 150 million merchant locations.
- Dtcpay holds licenses in Singapore, Luxembourg, Hong Kong, Australia, the US, and Canada.
Singapore-based payments company dtcpay announced on Friday that it has completed its $25 million Series A funding round, with Japanese financial conglomerate SBI Group joining as a strategic investor. Vertex Ventures Southeast Asia & India, part of Temasek Holdings' Vertex Holdings, led the initial tranche of the round in April. Genedant Capital and existing investor Kwee Liong Tek also participated.
Dtcpay stated that the investment reflects confidence in its vision to make stablecoins as accessible as traditional financial services. The company aims to "fundamentally change how money moves across borders," according to founder and CEO Alice Liu.
The company has been active in the stablecoin payments space, with its Visa card enabling spending in both fiat and stablecoins at over 150 million merchant locations globally. Dtcpay previously launched a payment system for in-store and online transactions using fiat and cryptocurrencies, later shifting to stablecoin-only transactions.
SBI Group operates across banking, securities, insurance, asset management, and digital assets. Genedant Capital is a Singapore-based fund manager with over $2 billion in assets under management. Dtcpay holds licenses from the Monetary Authority of Singapore and an Electronic Money Institution license in Luxembourg, allowing it to provide regulated payment services across the European Economic Area, as well as licenses in Hong Kong, Australia, the United States, and Canada.