Stablecoin Payments Firm dtcpay Closes $25 Million Series A Led by SBI Group
Stablecoin payments company dtcpay has closed a Stablecoin payments firm dtcpay closes $25 million Series A with SBI Group investment.
Series A funding round with backing from Japan’s SBI Group, according to The Block, CoinDesk and Cointelegraph.
The Block reports that the new capital will let dtcpay expand its product suite and merchant network, including a revamped business portal aimed at enterprise clients. Cointelegraph similarly reports that the company plans to grow its merchant network and payment offerings following the raise.
CoinDesk confirms SBI Group’s role as backer of the round, without disclosing additional details on the round’s structure or other participants.
The funding adds to a wave of institutional interest in stablecoin-based payment infrastructure, with SBI Group’s involvement giving dtcpay a link to one of Japan’s larger financial conglomerates as it seeks to scale its enterprise and merchant offerings.
Sources: The Block, CoinDesk, Cointelegraph
This article is for information only and is not financial advice.
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