Singapore stablecoin payments firm dtcpay closes $25 million Series A with SBI Group as strategic investor
The round, which started with a $10 million tranche from Vertex Ventures earlier this year, will fund merchant-network expansion and a new enterprise portal and app.
Singapore-based stablecoin payments company dtcpay announced on September 18 that it has closed a $25 million Series A funding round, combining an earlier $10 million tranche led by Vertex Ventures Southeast Asia & India with a new strategic investment from Japan's SBI Group.
SBI invested through two of its vehicles, SBI Ventures Asset and the SBI-NTU-Kyobo Digital Innovation Fund, alongside participation from Genedant Capital and existing investor Kwee Liong Tek. Dtcpay said it will use the capital to expand its merchant network and build out a new enterprise portal and app, though it did not disclose specific merchant-count targets or a rollout timeline for the new products.
Dtcpay operates in the stablecoin payments space that has drawn a wave of institutional capital over the past year, as banks, payment networks and specialty fintechs race to build settlement rails around dollar-backed tokens. SBI Group's participation is notable given the Japanese financial conglomerate's broader pattern of investing across digital-asset infrastructure in Asia, spanning custody, exchanges and now merchant-facing stablecoin payments.
Neither dtcpay nor its investors disclosed a post-money valuation for the round. The company did not respond to a request for additional detail on current transaction volumes.