Stablecoin Payment Company dtcpay Secures $25 Million in Series A Funding, SBI Group Participates

BlockBeats News, September 18 – Singapore-based stablecoin payment company dtcpay has completed a $25 million Series A funding round, with Japan's SBI Group joining as a strategic investor. SBI Group participated in this round through its subsidiaries SBI Ventures Asset and the SBI-NTU-Kyobo Digital Innovation Fund. The initial funding for this round was led by Vertex Ventures Southeast Asia and India, with participation from Genedant Capital, existing investors, and Singaporean entrepreneur Kwee Liong Tek. dtcpay stated that the new funds will be used to expand its product portfolio and merchant network, including upgrading its business portal for enterprise clients and introducing new consumer features in the dtcpay app. Founded in 2019, dtcpay provides stablecoin infrastructure for receiving, storing, and transacting for businesses and individuals. The company has launched an offline stablecoin payment terminal service and partnered with Visa to introduce a Visa Infinite card for Singaporean customers, enabling the conversion of stablecoins into fiat currency. The company plans to continue strengthening its infrastructure, deepening collaborations with global financial institutions, and expanding into new regulated markets. [Original Link]