Stablecoin payments firm dtcpay closes $25M round with SBI backing

Dtcpay plans to expand its merchant network and payment products after completing a $25 million Series A backed by Japan’s SBI Group.

Singapore-based stablecoin payments company Dtcpay has completed a $25 million Series A funding round after securing backing from Japanese conglomerate SBI Group. 

On Friday, SBI Holdings said it invested through SBI Ventures Asset and the SBI-NTU-Kyobo Digital Innovation Fund, two Singapore-based investment vehicles managed by the group. Neither SBI nor dtcpay disclosed the size of SBI’s contribution or the company’s valuation.

Dtcpay said the investment completed its $25 million Series A, which began with a $10 million tranche led by Vertex Ventures Southeast Asia & India in April. Genedant Capital and existing investor Kwee Liong Tek also participated in the round. Dtcpay previously raised $16.5 million in pre-Series A funding in June 2023.

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