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FollowingSingapore stablecoin payment company Dtcpay completed US$25 million in Series A financing and received support from Japan's SBI Group
Dtcpay, a stablecoin payment company headquartered in Singapore, has completed US$25 million in Series A financing and received investment support from Japan's large enterprise group SBI Group. On Friday, SBI Holdings announced that it had invested through its two Singapore investment vehicles, SBI Ventures Asset and SBI-NTU-Kyobo Digital Innovation Fund, both managed by the group. Currently, SBI and Dtcpay have not disclosed the specific investment amount and company valuation.
Dtcpay said that this financing completed a Series A financing totaling US$25 million. The round began with the first US$10 million funding led by Vertex Ventures Southeast Asia & India in April this year. In addition, Genedant Capital and existing investor Kwee Liong Tek also participated in this round of investment. Prior to this, Dtcpay completed a US$16.5 million Pre-A round of financing in June 2023.
The company mainly provides infrastructure for businesses and individuals to accept, store and use stablecoins and fiat currencies for transactions. Its services include a real-time stablecoin conversion fiat system, merchant payment terminals, and a Visa card that allows customers to spend with supported stablecoins over the card network.
In terms of compliance qualifications, Dtcpay has obtained the Major Payment Institution license issued by the Monetary Authority of Singapore and the Electronic Money Institution license in Luxembourg.
Dtcpay表示，这笔资金将用于扩展其商户网络和产品套件，包括 revamped 的商业门户和新推出的消费者功能。与此同时，SBI方面表示，此次投资将助力其在日本与东南亚之间建立数字资产走廊。
