SBI Group Joins $25M Series A for Stablecoin Payments Firm dtcpay
dtcpay has closed its $25 million Series A funding round after SBI Group joined as a strategic investor. The Japanese financial group invested through SBI Ventures Asset and the SBI-NTU-Kyobo Digital Innovation Fund in Singapore directly.
The new investment, announced on September 18, brings the total Series A funding to $25 million. Vertex Ventures Southeast Asia and India led dtcpay's initial $10 million Series A tranche in March, which was intended for product development, infrastructure work, and entry into newly licensed jurisdictions.
dtcpay plans to use the fresh capital on its payment products, merchant network, and international operations. The company has a regulatory presence in Singapore, with MAS listing it as a Major Payment Institution authorized for six regulated payment services. dtcpay also holds an Electronic Money Institution license in Luxembourg and maintains licenses or registrations in Hong Kong, Australia, the U.S., and Canada.
SBI's investment marks another stablecoin payments deal for the Japanese financial group. SBI has been building its blockchain settlement and digital payments business, including partnerships with Fasset and Solana Foundation.