SBI backs dtcpay with $25M funding round

• SBI Group has backed Singapore-based payments firm dtcpay through a $25 million Series A funding round.
• The investment will support dtcpay’s stablecoin payment infrastructure and expansion across its business and consumer products.
• dtcpay provides stablecoin conversion, custody and payment services under a Singapore Major Payment Institution licence.

SBI Group has invested in dtcpay through a $25 million Series A funding round as the Singapore payments firm expands its stablecoin infrastructure.

The funding has been completed as dtcpay develops payment products for businesses and consumers using digital assets and traditional currencies.

“We raised it to fundamentally change how money moves across borders,” said dtcpay founder and CEO Alice Liu.

The company provides stablecoin conversion, custody and payment services, including a Visa-linked card product for spending digital assets.

dtcpay has not disclosed its valuation or the precise allocation of the $25 million raised in the funding round.

The company plans to expand its enterprise portal, mobile application and merchant network as it develops its payments business.

dtcpay operates under a Major Payment Institution licence in Singapore, while SBI Group’s investment adds a major financial-services partner to its expansion strategy.