Japan's SBI Group Invests in Singapore Stablecoin Payments Firm dtcpay
Summary
- Japan's financial group SBI said it has made a strategic investment in Singapore stablecoin payments company dtcpay.
- dtcpay said it has completed a $25 million Series A funding round with investment from SBI Group.
- dtcpay said it plans to use the funds to build an enterprise payments platform, improve app features and expand its merchant network.
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Japan's SBI Group has made a strategic investment in Singapore-based stablecoin payments company dtcpay.
dtcpay said on September 18 that it had completed a $25 million Series A funding round with backing from SBI Group, according to CoinDesk. SBI Group participated through SBI Ven Capital and the SBI-NTU-Kyobo Digital Innovation Fund.
dtcpay is a Singapore fintech company that provides payment and remittance infrastructure using stablecoins. It also offers digital-asset exchange and custody services, as well as Visa cards that allow users to spend their stablecoin holdings on everyday purchases.
The company plans to use the funds to build an enterprise payments platform, improve app features and expand its merchant network.
Uk Jin
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