Key highlights:
- SBI Group has joined dtcpay as a strategic investor, helping the Singapore-based stablecoin payments company complete a $25 million Series A
- dtcpay will use the funding to expand its merchant network, enterprise infrastructure and consumer payment products
- SBI noted that the partnership supports its efforts to build a digital-asset corridor between Japan and Southeast Asia
Singapore-based stablecoin payments company dtcpay has completed a $25 million Series A funding round after bringing Japan’s SBI Group on board as a strategic investor. The investment adds a major financial institution to dtcpay’s backers as the company expands its stablecoin payment infrastructure across international markets.
SBI joins dtcpay funding round
SBI Group
Eiichiro So, CEO of SBI Ven Capital, noted that the investment marks the beginning of a strategic partnership with dtcpay. He also linked the deal to SBI’s broader objective of expanding a digital-asset corridor between Japan and the rest of Southeast Asia through regulated financial infrastructure.
Back in July, SBI Holdings acquired a majority stake in Singapore’s Coinhako cryptocurrency exchange in a clear show of intent of its expansionist goals. On home soil in Japan, SBI launched Japan’s first trust bank-backed stablecoin, leaning on regulatory clarity as a platform for its regional ambitions.
Source:: SBI Group Backs dtcpay in $25M Stablecoin Payments Round