SBI Group Invests in Dtcpay's $25M Series A

Stablecoin payments firm Dtcpay closed a $25 million Series A round, securing strategic backing from Japan's SBI Group, CoinDesk reported. Vertex Ventures Southeast Asia & India provided early anchor support for the capital raise earlier this year. SBI participated via SBI Ventures Asset and the SBI-NTU-Kyobo Digital Innovation Fund. Current investors Genedant Capital and Kwee Liong Tek retained their stakes in the company.

The firm possesses a Major Payment Institution license issued by the Monetary Authority of Singapore. It handles the conversion and safekeeping of digital assets, alongside offering cards connected to Visa in Europe, Hong Kong, Australia, and North America.

“We did not raise this round to sustain what we have built,” Alice Liu, founder and CEO of Dtcpay, said. “We raised it to fundamentally change how money moves across borders.”

Dtcpay stated that the new capital will fund the development of an enterprise portal, app enhancements, and merchant network growth. The announcement did not reveal the company’s valuation, revenue, or how the funds will be allocated.