Stablecoin payment company dtcpay completes $25 million Series A funding round with participation from SBI Group.

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 funding round through its SBI Ventures Asset and SBI-NTU-Kyobo Digital Innovation Fund.

The first batch of funds in this round was led by Vertex Ventures Southeast Asia and India, with participation from Genedant Capital and existing investor, 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 launching new consumer features in the dtcpay app.

Founded in 2019, dtcpay provides stablecoin receiving, storage, and trading infrastructure 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 Singapore customers that converts stablecoins into fiat currency. The company plans to continue strengthening its infrastructure, deepening cooperation with global financial institutions, and expanding into new regulated markets.