SBI backs Singapore stablecoin payments firm Dtcpay with $25 million Series A

Singapore‑based payments platform Dtcpay announced the close of its $25 million Series A round on September 18, with SBI Group participating as a strategic investor through SBI Ventures Asset Pte Ltd and the SBI‑NTU‑Kyobo Digital Innovation Fund. Existing backers Genedant Capital and Kwee Liong Tek also contributed, while Vertex Ventures Southeast Asia & India led the initial tranche.

Use of funds

The financing will fund a revamped enterprise portal, new consumer features for the Dtcpay app, and the expansion of its merchant network. These initiatives aim to broaden the use of stablecoins in everyday commerce by providing businesses and customers with tools to accept, store and transact in digital assets.

Strategic partnership with SBI

SBI Ven Capital CEO Eiichiro So described the investment as the start of a strategic partnership that aligns SBI’s ambition to grow digital‑asset origination across Japan and Southeast Asia with Dtcpay’s existing payment infrastructure. The partnership is intended to deepen relationships with financial institutions and support entry into additional regulated markets, although no specific launch dates were disclosed.

Product and market focus

Dtcpay’s platform includes direct merchant acceptance of stablecoins, a card‑based spending solution that works across fiat and stablecoin balances, and a swap engine that bridges stablecoin and fiat settlement. The company cites partnerships with Singapore department store Metro, hospitality group Capella Singapore, and integration with WalletConnect as examples of its growing merchant ecosystem.

Regulatory coverage includes a Major Payment Institution licence from the Monetary Authority of Singapore and an Electronic Money Institution licence in Luxembourg, supporting its plans for European market entry and future expansion into Japan.

Funding context

The $25 million round represents the total Series A amount; the exact contribution from SBI was not disclosed. The round follows an earlier $10 million Series A led by Vertex Ventures, which outlined product enhancements and European expansion as initial goals.