Singapore Payment Firm DTCpay Secures Series A Funding with SBI Group Investment

Singapore-based stablecoin payment firm DTCpay (dtcpay) has concluded its Series A fundraising round after attracting strategic investor SBI Group, a Japanese financial conglomerate.

According to cryptocurrency specialist media CoinTelegraph on April 19 (local time), DTCpay raised a total of $25 million (approximately 34.5 billion KRW) in this Series A round. Previously, Vertex Ventures Southeast Asia & India participated as the lead investor in April this year, and SBI Group has now joined as an additional investor to finalize the round. Genevieve Capital and existing investors Quillion Tech also participated.

"This funding is not about maintaining what we've built so far, but rather about fundamentally changing how money moves across borders," said Alice Liu, DTCpay founder and CEO.

DTCpay has proactively expanded its business in the stablecoin payment sector. Currently, through DTCpay Visa cards, users can spend both fiat currency and stablecoins at over 150 million merchant locations worldwide. In 2024, the company discontinued support for virtual asset payments including Bitcoin and transitioned to a dedicated stablecoin transaction system.

DTCpay holds a license from Singapore's Monetary Authority and has also obtained a Luxembourg electronic money institution license, enabling it to provide regulated payment services across the European Economic Area. The company has also secured relevant licenses and registrations in Hong Kong, Australia, the United States, and Canada.