Singapore payments company dtcpay has completed a $25 million Series A round after SBI Group joined as a strategic investor. The round was led in April by Vertex Ventures Southeast Asia & India, with Genedant Capital and existing investor Kwee Liong Tek also participating.

SBI invested through its subsidiary SBI Ventures Asset and through the SBI-NTU-Kyobo Digital Innovation Fund. dtcpay said the funding will expand its merchant network, build infrastructure, and support an upgrade to its payment network.

The company provides payment services that let merchants and businesses move between fiat currency and digital assets. It holds a Major Payment Institution license in Singapore, and its Visa card allows spending of both fiat and stablecoins at more than 150 million merchant locations.

The investment connects a regulated Singapore payments business with one of Japan's largest financial groups, which is already active in digital assets. Merchant adoption, cross-border volume, and the regulatory treatment of stablecoin payments in Singapore and Japan will determine how quickly the business can grow.