On Friday, SBI Holdings announced that it participated in the funding round through two of its Singapore-based investment vehicles managed by the group: SBI Ventures Asset and the SBI-NTU-Kyobo Digital Innovation Fund. While the partnership brings significant strategic value, neither SBI nor dtcpay disclosed the precise financial size of SBI’s individual contribution or the overarching valuation of the Singaporean fintech company following the transaction.
The fresh backing from SBI serves as the final catalyst to complete dtcpay’s $25 million Series A funding initiative. The investment cycle initially kicked off in April with a robust $10 million tranche led by Vertex Ventures Southeast Asia & India. That initial phase also saw participation from Genedant Capital and existing investor Kwee Liong Tek. The latest closing builds upon dtcpay’s previous fundraising momentum, which included a $16.5 million pre-Series A funding round secured back in June 2023, a period when the company was actively expanding its retail crypto payment systems in collaboration with various international partners.
Operating at the intersection of traditional finance and digital assets, dtcpay provides comprehensive payment infrastructure designed to allow both businesses and individuals to seamlessly accept, store, and transact in stablecoins as well as traditional fiat currencies. The firm’s core service offerings feature an advanced real-time stablecoin-to-fiat conversion system, user-friendly merchant payment terminals, and a specialized Visa card issuance service that enables customers to spend supported stablecoins directly through established traditional card payment networks.
Regulatory compliance has remained a cornerstone of dtcpay’s operational strategy as it scales its global footprint. The company currently holds a Major Payment Institution license authorized by the Monetary Authority of Singapore, a crucial regulatory stamp of approval in one of the world’s leading fintech hubs. Furthermore, dtcpay has expanded its regulatory reach internationally by securing an Electronic Money Institution license in Luxembourg, positioning the firm for broader compliance and operational reach within the European market.
Looking ahead, dtcpay leadership indicated that the newly secured capital will be directly deployed to support a comprehensive expansion of its merchant network and broader product suite. This planned product rollout includes a heavily revamped business portal tailored for enterprise clients alongside a suite of new consumer-facing features designed to simplify digital currency spending. Meanwhile, SBI outlined that its strategic investment aligns closely with its broader corporate efforts to develop and foster a robust digital asset and payment corridor connecting Japan and Southeast Asia, bridging two of the world’s most dynamic economic regions. The convergence of institutional backing and regulatory compliance places dtcpay in a prominent position as the global financial sector continues to experiment with and adopt stablecoin settlement technologies.
