dtcpay, a Singapore-headquartered digital payments company, has closed a $10 million Series A round led by Vertex Ventures Southeast Asia & India, the company announced today. Favour Capital served as exclusive financial adviser on the deal.
The raise is timed to coincide with a significant regulatory expansion. dtcpay has secured an Electronic Money Institution licence in Luxembourg, giving it passporting rights to offer regulated payment services across the European Economic Area. That joins an existing Major Payment Institution licence from the Monetary Authority of Singapore and additional licences and registrations in Hong Kong, Australia, the United States, and Canada — a six-jurisdiction regulatory stack that CEO Alice Liu says has been years in the making.
Founded by Liu and co-founder Band Zhao, dtcpay enables businesses and individuals to accept, store, and transact in stablecoins for everyday use, with a real-time swap engine handling instant settlement across both stablecoin and fiat currencies. Among its more distinctive offerings, it has partnered with Visa to issue Visa Infinite cards to retail customers and corporate card solutions to businesses, settling across digital and fiat currencies at spot rates.
The fresh capital will go toward product development, infrastructure improvements, and building out operational presence in its newly licensed markets, with European entry the near-term priority.
The round reflects intensifying investor interest in regulated stablecoin infrastructure. Vertex general partner Genping Liu pointed to the convergence of utility and regulated finance as the core opportunity, noting that mainstream adoption in global digital payments will hinge on providers that can match technical capability with compliance credibility and consumer-grade user experience. dtcpay, he said, is "uniquely positioned" to capture that wave.
The broader stablecoin payments market is accelerating rapidly, driven by regulatory clarity in the US, EU, and across Asia. Singapore has emerged as a hub for licensed stablecoin infrastructure companies — dtcpay now competes in that space alongside MetaComp, which raised $35 million earlier this week backed by Alibaba, and other MAS-licensed payment firms building cross-border settlement rails.
