Dtcpay welcomes SBI Group as strategic investor extending Series A to $25M

Singapore payment company dtcpay completed its $25 million Series A funding round, led by Vertex Ventures Southeast Asia & India in April, and now further anchored by Japanese financial conglomerate SBI Group.The round also drew participation from Genedant Capital and existing investor Kwee Liong Tek.The investment reflects institutional confidence in dtcpay ‘s vision of making stablecoins as seamless and accessible as traditional financial services, it said on Friday.“We did not raise this round to sustain what we have built. We raised it to fundamentally change how money moves across borders,” said Alice Liu, founder and CEO of dtcpay.Dtcpay made a series of early moves in the stablecoin payments space, and now the dtcpay Visa card enables spending across both fiat and stablecoins at more than 150 million merchant locations worldwide.Payment system for in-store and online transactionsCointelegraph reported in 2023 that dtcpay had launched a payment system using fiat and cryptocurrencies for in-store and online payments. It followed up in 2024 by reporting that dtcpay phased out support for cryptocurrencies like Bitcoin in favor of stablecoin-only transactions.The completion o...