Japanese financial conglomerate SBI Holdings Inc. has invested in Singapore-based Dtcpay, a regulated stablecoin payments platform. The investment, announced September 18, expands Dtcpay's Series A financing round to $25 million and strengthens SBI's digital asset operations across Asia.
Two Singapore investment vehicles managed by SBI provided the capital: SBI Ventures Asset Pte. Ltd. and the SBI-NTU-Kyobo Digital Innovation Fund. Dtcpay had previously secured $10 million in Series A funding led by Vertex Ventures Southeast Asia & India in March.
Expanding Stablecoin Merchant Access
The new funding will support Dtcpay's merchant network growth, business portal features, consumer app development, and expansion into additional regulated markets. Dtcpay Group Chairman Band Zhao stated the company is "strengthening our infrastructure, deepening partnerships with global financial institutions, and expanding into new regulated markets to make stablecoin payments as seamless and trusted as traditional payment rails."
Dtcpay operates a real-time swap engine that allows businesses to accept, store, and transact in both stablecoins and fiat currency. The platform recently integrated with WalletConnect, enabling stablecoin acceptance across more than 700 digital wallets. Dtcpay also launched a stablecoin-to-fiat card connected to Visa, providing access to more than 150 million merchant locations.
The company has supported stablecoin payments at Singapore retailers and hotels, including Metro and Capella Singapore. It also maintains a partnership with blockchain network BNB Chain.
Singapore Regulatory Framework
Dtcpay operates as a brand of Digital Treasures Center Pte. Ltd., which holds a payment license from Singapore's Monetary Authority of Singapore (MAS). The regulator lists Digital Treasures Center as a Major Payment Institution authorized for account issuance, domestic and cross-border transfers, merchant acquisition, e-money issuance, and digital payment token services. Dtcpay additionally holds an Electronic Money Institution license in Luxembourg.
SBI's Regional Expansion
The investment reflects SBI's growing focus on Singapore as a hub for regional digital asset infrastructure. SBI completed a controlling investment in Coinhako, a Singapore-based regulated crypto exchange, in July. The group's broader stablecoin work includes transaction testing across Asian markets. SBI Digital Practice and South Korean insurer Kyobo Life recently completed a direct yen-won stablecoin pilot without routing transfers through the U.S. dollar.
