Key Takeaways
According to CryptoSlate, Singapore payments company dtcpay completed a $25 million Series A funding round featuring SBI Group as a strategic investor.
According to CryptoSlate, Singapore payments firm dtcpay completed a $25 million Series A funding round, with SBI Group joining as a strategic investor to support stablecoin payment and merchant expansion. The announcement on Sept. 18 named SBI Ventures Asset Pte Ltd and the SBI-NTU-Kyobo Digital Innovation Fund as the Japanese group's investment vehicles, while Genedant Capital and existing investor Kwee Liong Tek also participated, following an initial tranche led by Vertex Ventures Southeast Asia & India.
CryptoSlate reported that the capital will fund a revamped business portal for enterprise customers, additional consumer app features, and a broader merchant network. SBI Ven Capital CEO Eiichiro So described the investment as a strategic partnership aiming to expand digital-asset origination between Japan and Southeast Asia. However, dtcpay did not disclose its valuation, individual funding amounts, or a timeline for a launch in Japan. Dtcpay's infrastructure supports stablecoin acceptance, storage, and transactions, with existing relationships including Metro, Capella Singapore, and WalletConnect, alongside a Visa card offering spending access across fiat and stablecoins at over 150 million merchant locations worldwide. The company holds a Major Payment Institution license from the Monetary Authority of Singapore and an Electronic Money Institution license in Luxembourg.
Source & Fact-Check Note
This report is synthesized from coverage by CryptoSlate. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at CryptoSlate ↗
