SBI Group backs payments firm dtcpay in $25 million funding round
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Summary
Stablecoin payments company dtcpay has completed a $25 million Series A funding round that involved a strategic investment from Japan’s SBI Group. The Singapore-licensed firm offers digital-asset conversion, custody, and Visa-linked card services across Europe, Hong Kong, Australia, and North America. SBI’s participation marks a strategic move to connect Japanese capital with Southeast Asian markets.
Why it matters
The funding supports dtcpay’s plans to develop an enterprise portal, enhance its app, and expand its merchant network. According to dtcpay’s CEO, the capital raise aims to fundamentally change cross-border money movement. SBI’s involvement highlights its strategy to build regulated stablecoin and digital-asset financial infrastructure linking Asia-Pacific regions.
Key context
Dtcpay holds regulatory licenses in multiple regions, including Singapore’s Major Payment Institution license. SBI Group has been expanding its presence in digital assets by acquiring companies like Coinhako, investing in Ripple and distributing RLUSD stablecoin, and participating as a founding validator for Circle’s Arc network. The use of stablecoins offers faster alternatives to traditional correspondent banking if conducted within strong regulatory frameworks.
Key numbers and entities
The key entities involved are dtcpay, the SBI Group (including SBI Ventures Asset and SBI-NTU-Kyobo Digital Innovation Fund), Vertex Ventures Southeast Asia & India, Genedant Capital, and Kwee Liong Tek. The funding amount is $25 million.
What remains unclear
The source does not disclose dtcpay’s current valuation, revenue figures, or the specific allocation of the raised funds. Details on the precise timeline and milestones for the enterprise portal and app enhancements are also not provided.