Singapore-based payment firm dtcpay has finalized its Series A funding round, reaching a total of $25 million. The round was initially led by Vertex Ventures Southeast Asia & India in April, with the Japanese financial conglomerate SBI Group recently joining as a strategic investor.
Additional participants in the funding round include Genedant Capital and existing investor Kwee Liong Tek. The capital injection is intended to support the company's goal of streamlining cross-border transactions using stablecoins, positioning them as a viable alternative to traditional financial services.
The company currently offers a dtcpay Visa card, which allows users to spend both fiat and stablecoins at over 150 million merchant locations globally. Following a strategic shift in 2024, the platform now focuses exclusively on stablecoin-based transactions rather than volatile cryptocurrencies like Bitcoin.
Dtcpay holds regulatory licenses from the Monetary Authority of Singapore and an Electronic Money Institution license in Luxembourg. The firm is authorized to provide payment services across the European Economic Area and maintains registrations in Hong Kong, Australia, the United States, and Canada.
