• dtcpay's Series A stands at US$25 million after SBI Group joined a round first led by Vertex Ventures Southeast Asia & India in April 2026, according to the company's 18 September 2026 release.
• SBI invested through SBI Ventures Asset Pte Ltd and the SBI-NTU-Kyobo Digital Innovation Fund; Genedant Capital and existing investor Kwee Liong Tek also appear in the investor list.
• The stated uses of proceeds are product and distribution items: the product suite, merchant network, enterprise business portal and consumer app features.
• The release contains no valuation, transaction volume or user count, so the round cannot be read as evidence of traction.
• The company-reported licence footprint, led by a Singapore Major Payment Institution licence, is the checkable asset. Confirm each licence against the relevant regulator's register before relying on it.

SBI Group has joined dtcpay's US$25 million Series A, according to the Singapore stablecoin payments company's release of 18 September 2026. The round was first led by Vertex Ventures Southeast Asia & India in April 2026. The announcement establishes who is on the cap table, what the money is earmarked for and which licences the company says it holds. It does not establish how much the business processes, what it is valued at, or how many users it has.

Who is in the round

The round was first led by Vertex Ventures Southeast Asia & India in April 2026, according to dtcpay's 18 September 2026 release, and SBI Group has now joined it. SBI invests through two vehicles named in the release: SBI Ventures Asset Pte Ltd and the SBI-NTU-Kyobo Digital Innovation Fund. Genedant Capital and existing investor Kwee Liong Tek also appear in the investor list. The release does not say how the US$25 million divides between investors.

What the proceeds are for

dtcpay says the proceeds will scale its product suite, expand its merchant network, revamp the business portal for enterprise clients and add consumer-friendly features to the dtcpay app. Those are distribution and product-surface items rather than balance-sheet items such as reserves or float. CEO Alice Liu framed the raise as aimed at changing how money moves across borders. That is a stated intention, not a measurable target, and the release gives no dated milestone.

The licence perimeter

dtcpay says it holds a Major Payment Institution licence from the Monetary Authority of Singapore and an Electronic Money Institution licence in Luxembourg, plus licences or registrations in Hong Kong, Australia, the United States and Canada. These are company-reported and were not checked against regulator registers for this piece. A full licence and a registration carry different obligations, and the release does not say which applies where. For a stablecoin payments firm, that perimeter matters more than the round size.

What is not disclosed

The release gives no valuation, no transaction volume and no user or merchant count. Without them, the round cannot be read as evidence of traction; it shows that named investors, including a Japanese financial group, chose to participate. Any valuation or volume figure circulating elsewhere should be treated as unconfirmed until dtcpay or a regulatory filing states it. Readers comparing this raise with other stablecoin-payments rounds have only the US$25 million headline figure and the investor names to work with.

What to watch next

Three disclosures would move this from announcement to evidence: published settlement volumes, a stated merchant count, and clarity on which licences cover which corridors. None appears in the release. SBI's participation through two vehicles may be strategic, but the release names no commercial arrangement between SBI and dtcpay, and none should be assumed. Counterparties should verify licence status directly with the relevant regulator.