SBI Group Joins dtcpay's $25M Funding Round for Stablecoin Expansion

dtcpay has secured additional funding from SBI Group, bringing its Series A round to $25 million. The investment was initially led by Vertex Ventures Southeast Asia & India in April and also included participation from Genedant Capital and existing investor Kwee Liong Tek.

The company aims to make stablecoins as seamless and accessible as traditional financial services. dtcpay's CEO, Alice Liu, stated that the funding round is not just about sustaining their growth but fundamentally changing how money moves across borders.

dtcpay has been making early moves in the stablecoin payments space, and its Visa card enables spending across both fiat and stablecoins at over 150 million merchant locations worldwide. The company's payment system allows for in-store and online transactions using both fiat and cryptocurrencies, although it phased out support for cryptocurrencies like Bitcoin last year in favor of stablecoin-only transactions.