Singapore-based stablecoin payments firm dtcpay has closed a $25 million Series A led by Vertex Ventures Southeast Asia & India, with Japan's SBI Group participating through SBI Ventures Asset and the SBI-NTU-Kyobo Digital Innovation Fund.
As reported by The Block, Genedant Capital and existing investor Kwee Liong Tek also took part. The proceeds will scale dtcpay's product suite and merchant network, including a revamped business portal for enterprise clients and new consumer app features.
dtcpay lets businesses and individuals accept, hold and spend stablecoins, with a point-of-sale service for in-store stablecoin payments and a stablecoin-to-fiat Visa Infinite card in Singapore. It positions its cross-border settlement as faster than SWIFT and correspondent banking. No usage metrics were disclosed.
Founder and chief executive Alice Liu said the company raised the money "to fundamentally change how money moves across borders."