Singapore payments company dtcpay has completed a $25m Series A round after SBI Group joined as a strategic investor, giving its stablecoin payments business new funding for product development and merchant expansion.
The round was announced on Sept. 18. SBI Ventures Asset Pte Ltd and the SBI-NTU-Kyobo Digital Innovation Fund invested on behalf of the Japanese group, alongside Genedant Capital and existing backer Kwee Liong Tek. Vertex Ventures Southeast Asia & India led the initial tranche.
Dtcpay said the money would be used to overhaul its business portal for enterprise customers, add features to its consumer app and grow its merchant network. The company is seeking to increase the use of stablecoins in everyday transactions by developing the infrastructure used by businesses and consumers.
The $25m represents the total Series A, not SBI Group’s individual contribution. Dtcpay has not disclosed its valuation or how much was invested by each participant.
Eiichiro So, chief executive of SBI Ven Capital, called the investment the beginning of a strategic partnership. He said it supported SBI’s ambition to develop digital-asset origination between Japan and Southeast Asia through regulated financial infrastructure.
The announcement linked that regional strategy with dtcpay’s existing payments operation, which also includes plans for closer relationships with financial institutions, further product development and merchant growth. However, it did not identify how much funding would be directed towards any individual objective.
The companies have outlined cross-border ambitions, but no date was given for a dtcpay launch in Japan.
Dtcpay founder and chief executive Alice Liu said the investment was focused on changing the way money moves across borders. Co-founder and group chairman Band Zhao listed stronger infrastructure, deeper financial-institution partnerships and expansion into other regulated markets as priorities.
The latest funding follows an earlier Vertex-led round. In an announcement published on March 17, Vertex described a $10m Series A for dtcpay, with product improvements and European expansion among its objectives.
Expanding stablecoin payment options
Dtcpay says its infrastructure allows businesses and individuals to accept, hold and use stablecoins. Its swap engine connects stablecoin payments with fiat settlement, while its products include direct merchant acceptance and card-based spending.
The company lists Singapore department store Metro and hospitality business Capella Singapore among its commercial relationships. It also says it has integrated with WalletConnect as it develops connections across retail and payments.
Its Visa card can be used for transactions involving fiat currencies and stablecoins at more than 150 million merchant locations worldwide, according to dtcpay. That figure refers to the card’s acceptance network and does not represent the number of merchants directly signed up to accept stablecoins through the company.
Dtcpay has not published payment-volume figures for either direct merchant acceptance or card spending.
The company says it holds a Major Payment Institution licence from the Monetary Authority of Singapore and an Electronic Money Institution licence in Luxembourg. The Luxembourg licence was also cited in Vertex’s earlier announcement in connection with plans to enter European markets.
The new investment therefore builds on dtcpay’s European plans while adding SBI’s stated focus on Japan and Southeast Asia. Its immediate priorities remain the enterprise portal, consumer app and merchant network, although the company has not specified how the capital will be divided between products and markets.
