dtcpay closes $25M Series A with SBI backing as it pushes stablecoin merchant payments

Singapore-based stablecoin payments company dtcpay has finished a $25 million Series A after bringing in SBI Group as an investor. For PSPs and merchants watching the high-risk payments stack, the useful bit is not the headline number; it is that dtcpay is still building regulated rails across stablecoins, fiat, and card acceptance, with licenses in Singapore and Luxembourg.

1. On Friday, SBI Holdings said it invested through SBI Ventures Asset and the SBI-NTU-Kyobo Digital Innovation Fund, two Singapore-based investment vehicles managed by the group. Neither SBI nor dtcpay disclosed the size of SBI’s contribution or dtcpay’s valuation.
2. Dtcpay said the investment completed its $25 million Series A. The round began in April with a $10 million tranche led by Vertex Ventures Southeast Asia & India, and also included Genedant Capital and existing investor Kwee Liong Tek.
3. The company had previously raised $16.5 million in pre-Series A funding in June 2023.
4. Dtcpay’s infrastructure lets businesses and individuals accept, store and transact in stablecoins and fiat currencies. Its product set includes a real-time stablecoin-to-fiat conversion system, merchant payment terminals and a Visa card that lets customers spend supported stablecoins through the card network.
5. The company holds a Major Payment Institution license from the Monetary Authority of Singapore and an Electronic Money Institution license in Luxembourg. Dtcpay said the new funding will support expansion of its merchant network and product suite, including a revamped business portal and new consumer features. SBI said the investment supports its efforts to develop a digital asset corridor between Japan and Southeast Asia.