dtcpay closes $25 million Series A with SBI Group as strategic investor

Singapore-based stablecoin payments company dtcpay announced on September 18, 2026 that it has completed a US$25 million Series A funding round, anchored by Japan's SBI Group. The company, which operates as a Major Payment Institution licensed by the Monetary Authority of Singapore, said the round was first led by Vertex Ventures Southeast Asia & India in April 2026 and has now been extended with SBI Group joining as a strategic investor. SBI Group invested through two vehicles: its subsidiary SBI Ventures Asset Pte Ltd and the SBI-NTU-Kyobo Digital Innovation Fund. The announcement positions dtcpay as a bridge between digital assets and traditional finance, allowing businesses and individuals to accept, store and transact in stablecoins.

The funding history is notable. The Crypto Times reported on September 18, 2026 that the initial tranche of the Series A was $10 million and was separately announced in March 2026, with Vertex Ventures Southeast Asia & India leading. Vertex Holdings is a wholly owned subsidiary of Temasek Holdings. When SBI Group joined, the total reached $25 million. The round also drew participation from Singapore fund manager Genedant Capital, which is licensed by MAS and has over US$2 billion in assets under management and advisory, and from existing investor Mr. Kwee Liong Tek, a well-known Singaporean business figure. dtcpay did not disclose individual investment amounts or its valuation following the round.

dtcpay was founded in 2019 by Alice Liu, who serves as founder and CEO, and Band Zhao, group chairman. The company provides infrastructure that enables businesses and consumers to accept, hold and transact in stablecoins. Its real-time swap engine settles stablecoin and fiat transactions, a process where SWIFT and correspondent banking typically face multi-day cycles and layered intermediary fees. The product suite includes a Digital Payment Token point-of-sale acceptance solution for in-store stablecoin payments. dtcpay was an early player in Asia to integrate WalletConnect, extending acceptance across more than 700 wallets. With Visa, it introduced a stablecoin-to-fiat Visa Infinite card that now enables multi-currency spend across fiat and stablecoins at more than 150 million merchant locations worldwide. With BNB Chain, dtcpay enabled Metro to become the first department store in Singapore to accept stablecoin payments, and it has extended acceptance to hospitality partners such as Capella Singapore.

Key Facts

FinTech Global reported on September 18, 2026 that dtcpay extended its Series A funding round to $25 million after welcoming Japan's SBI Group as a strategic investor. The report noted that SBI Group is investing through SBI Ventures Asset Pte Ltd and the SBI-NTU-Kyobo Digital Innovation Fund, and that Genedant Capital also joined alongside continued commitment from existing backer Mr. Kwee Liong Tek. The fresh capital will fund a revamped business portal for enterprise clients and consumer-facing updates to the dtcpay app through the remainder of 2026.

The Block reported on September 18, 2026 that the capital allows dtcpay to scale its product suite and merchant network. The report quoted Alice Liu saying, 'We did not raise this round to sustain what we have built. We raised it to fundamentally change how money moves across borders.' Band Zhao said the next chapter for dtcpay 'is about scale', pointing to strengthening infrastructure, deepening partnerships with global financial institutions, and expanding into new regulated markets. The Block also noted that the Series A completion came after the company announced a $16.5 million pre-Series A round in June 2023.

The Cryptonomist reported on September 18, 2026 that dtcpay did not disclose how much SBI invested, the stake, or an updated valuation. The report confirmed that dtcpay handles digital-asset conversion and custody, runs a point-of-sale service letting merchants accept stablecoins, and partnered with Visa on a stablecoin-to-fiat card available in Singapore. The $25 million will fund a revamped enterprise portal, new consumer-app features and merchant partnerships, with no specific launch dates given.

PR Newswire reported on September 18, 2026 that Genedant Capital is a Singapore fund manager licensed by MAS with over US$2 billion in assets under management and advisory. Eiichiro So, CEO of SBI Ven Capital, said the investment marks the beginning of a strategic partnership with dtcpay and pointed to expanding the global corridor for digital asset origination between Japan and Southeast Asia through trusted, regulated digital financial infrastructure. Genedant Capital CEO Quek How Jiang added that dtcpay is 'building the regulated infrastructure that will bring stablecoin payments into everyday commerce.' The release also noted that dtcpay was named Disruptor of the Year and Fintech of the Year at the 2025 Asia Fintech Awards.

Analysis

The bigger picture here is that dtcpay's $25 million Series A is not merely a funding milestone but a clear signal that regulated stablecoin payments are moving from niche experimentation into mainstream financial infrastructure. SBI Group's decision to join as a strategic investor, through two distinct vehicles, suggests that one of Japan's largest financial conglomerates sees Singapore as a critical hub for digital asset origination and cross-border settlement. The partnership aims to expand the global corridor between Japan and Southeast Asia, where stablecoins can offer faster settlement than correspondent banking, provided compliance standards are met. This is a judgement about direction: the money is following regulation, not circumventing it.

The structure of the round reinforces that view. Vertex Ventures Southeast Asia & India, a subsidiary of Temasek Holdings, led the initial $10 million tranche in April 2026 (announced in March 2026), and SBI Group's arrival topped it up to $25 million. Genedant Capital, with over US$2 billion in assets under management and advisory, and Kwee Liong Tek, a prominent Singapore business figure, also participated. Such a mix of sovereign-linked venture capital, Japanese strategic capital, and local family office money is not typical for an early-stage payments startup. It indicates that investors are pricing in a future where stablecoin rails become a standard layer for commerce, not a speculative sideshow.

What this really means is that dtcpay's real-time swap engine and its product suite are being positioned as an alternative to traditional correspondent banking. The company says its engine settles stablecoin and fiat transactions where SWIFT and correspondent banking typically face multi-day cycles and layered intermediary fees. Its Visa Infinite card, usable at more than 150 million merchant locations worldwide, and its WalletConnect integration, reaching more than 700 wallets, show that the firm is building distribution as well as infrastructure. The BNB Chain collaboration that helped Metro become the first Singapore department store to accept stablecoin payments is an example of retail adoption that goes beyond crypto-native users. These are concrete steps toward everyday commerce.

Why It Matters

The funding comes as Singapore develops its stablecoin framework. On September 1, 2026, the Monetary Authority of Singapore proposed rules requiring stablecoin issuers to maintain reserves covering at least 100% of outstanding stablecoins, redeem tokens at face value and bar interest or yield to holders. dtcpay already holds a MAS Major Payment Institution license, a Luxembourg Electronic Money Institution license for the European Economic Area, and licences or registrations in Hong Kong, Australia, the United States and Canada. That compliance footprint is a competitive moat. For merchants and consumers, the arrival of a well-capitalized, regulated stablecoin payments provider could accelerate acceptance at retail and hospitality venues, from department stores like Metro to hotels like Capella Singapore.

For the broader market, stablecoin payments are no longer a fringe activity. With SBI Group's backing, dtcpay gains a strategic partner that can open doors in Japan and across Asia. The Visa partnership, reaching more than 150 million merchant locations, and the WalletConnect integration, reaching more than 700 wallets, give the company distribution that many competitors lack. As MAS tightens reserve and redemption requirements, only compliant players will be able to serve mainstream businesses. dtcpay's multiple licenses position it to capture that demand.

Next Up

For the rest of 2026, dtcpay plans to roll out a revamped enterprise business portal and new consumer features in its app. The company has not given specific launch dates. The fresh capital is intended to scale the product suite and merchant network, deepen partnerships with global financial institutions, and expand into new regulated markets. SBI Group's participation is expected to help build fully regulated payment corridors linking Japanese capital with Southeast Asian commercial channels.

The strategic partnership with SBI Group marks the beginning of a new phase for dtcpay. As Alice Liu said, the round was raised to fundamentally change how money moves across borders. With regulatory frameworks taking shape in Singapore and beyond, the company's next milestones will be watched closely by investors, merchants and competitors alike. Whether dtcpay can turn its compliance advantages and distribution partnerships into widespread everyday use of stablecoins is the key question for the months ahead.