Dtcpay extends Series A to $25M with SBI Group as strategic investor

Singapore payments company dtcpay has completed its $25 million Series A, with Japanese financial conglomerate SBI Group joining the round after the initial tranche was led by Vertex Ventures Southeast Asia & India in April. For high-risk PSPs, the useful bit is simple: this is another signal that regulated stablecoin payment rails are still attracting institutional capital, even as the industry keeps trimming away anything that looks too much like retail crypto.

1. dtcpay said on Friday that the round is now fully anchored by SBI Group, alongside participation from Genedant Capital and existing investor Kwee Liong Tek. Alice Liu, founder and CEO of dtcpay, framed the raise as a bid to “fundamentally change how money moves across borders,” not just fund the existing business.
2. The company has been moving early in stablecoin payments. Its dtcpay Visa card now enables spending across both fiat and stablecoins at more than 150 million merchant locations worldwide. For merchants and PSPs, that matters because the card is positioned as a bridge product: traditional acceptance on the front end, stablecoin settlement logic behind it.
3. Cointelegraph reported in 2023 that dtcpay launched a payment system using fiat and cryptocurrencies for in-store and online payments, then reported in 2024 that the company phased out support for cryptocurrencies like Bitcoin in favor of stablecoin-only transactions. That is the familiar high-risk playbook: cut volatility, keep the payment use case.
4. Vertex Ventures Southeast Asia & India, part of Vertex Holdings and ultimately a subsidiary of Temasek Holdings, led the initial tranche. dtcpay said the combination of capital and operating expertise matters for scaling the business, which is usually code for “this payment stack is not getting simpler.”
5. On the regulatory side, dtcpay is licensed by the Monetary Authority of Singapore and also holds an Electronic Money Institution license in Luxembourg. The company says it is authorized to deliver regulated payment services across the European Economic Area and also holds licenses and registrations in Hong Kong, Australia, the United States and Canada.

For context, Genedant Capital is a Singapore-based fund management firm licensed by the Monetary Authority of Singapore and says it has over $2 billion in assets under management and advisory. SBI Group operates across banking, securities, insurance, asset management and digital assets, which is exactly the sort of investor profile that tends to matter when a payments company wants credibility with banks as much as with merchants.