SBI Drops $25M on dtcpay, Clearly Has a Type When It Comes to Stablecoins 💸

Stablecoin payments company dtcpay has formally closed a $25 million Series A round anchored by a strategic investment from Japan's SBI Group, the companies announced. The round, initially led earlier this year by Vertex Ventures Southeast Asia & India, drew SBI through SBI Ventures Asset and the SBI-NTU-Kyobo Digital Innovation Fund, with existing backers Genedant Capital and Kwee Liong Tek also retaining their stakes.

The Singapore-headquartered firm holds a Major Payment Institution license from the Monetary Authority of Singapore and operates across Europe, Hong Kong, Australia and North America. Its service suite covers digital-asset conversion, custody and a Visa-linked card that enables stablecoin balances to be spent at point-of-sale terminals.

SBI's move extends a wider push into regulated stablecoin infrastructure, following its acquisition of Singapore-based Coinhako, the growth of its multibillion-dollar stake in Ripple to support distribution of the RLUSD stablecoin, and its role as a founding validator on Circle's Arc network. "We did not raise this round to sustain what we have built," dtcpay founder and CEO Alice Liu said in the announcement. "We raised it to fundamentally change how money moves across borders."

Dtcpay said the proceeds will be directed toward an enterprise portal, upgraded application features and merchant-network expansion. The companies did not disclose the company's revenue or valuation, and provided no breakdown of how the $25 million will be allocated across the planned initiatives.