This startup makes stablecoin transactions usable for retail

*This article is adapted from * Tech in Asia

This article is a part of Startup Spotlight, a series that features young, up-and-coming startups.

In 2019, a group of National University of Singapore alumni noticed that global payments relied on deeply fragmented infrastructure. 

They launched Dtcpay to leverage blockchain technology for faster and safer transactions. The founders prioritized building a fully compliant system.

😟 Problem

Merchants face severe operational and compliance hurdles when attempting to accept digital currencies. Consumers hold over US$300 billion in circulating stablecoins. However, everyday businesses struggle to tap into this liquidity due to volatility and complex integration requirements.

Small businesses managing cross-border trade also suffer from slow settlement times and opaque fees. In Singapore, where small enterprises make up 99% of all businesses, these inefficiencies restrict international growth.

💡 Solution

The company offers an integrated suite for accepting and settling stablecoin payments alongside traditional fiat currencies, including:

• Acceptance: Online checkouts and in-store point-of-sale systems process both fiat and stablecoins.
• Conversion and settlement: A swap layer provides real-time exchange rates and transparent upfront costs.
• Consumer usability:  A linked corporate card enables digital currency spending across traditional financial networks globally.
• Interoperability: System connections include blockchain infrastructure protocol WalletConnect, Primer, and the Circle Payments Network.

📊 Market size

Global digital currency ownership exceeds 560 million individuals. Real-time transaction volumes reached 266.2 billion in 2023. This volume represents a 42.2% year-on-year growth rate.

Industry estimates project actual stablecoin payments will reach around US$390 billion annually by the end of 2025. By 2028, global real-time transactions could account for 27.1% of all electronic payments.

🤝 Team

• Alice Liu. Founder and CEO.  She leads Dtcpay’s regulated growth. She is the recipient of the FinTech Mentor Award at the Singapore FinTech Festival.
• Band Zhao. Group chairman. He leads strategic initiatives and business growth for Dtcpay.
• Sam Lin. COO. He leads the digital transformation and AI strategy and represents Dtcpay at industry platforms.

🚀 Traction

• Secured a Major Payment Institution license from the Monetary Authority of Singapore (MAS).
• Named FinTech of the Year and Disruptor of the Year at the Asia FinTech Awards 2025.
• Recognized as the first Major Payment Institution partner in Asia for WalletConnect.
• Integrated with Anext Bank for small business account workflows.
• Selected for the Mastercard Crypto Partner Programme.

🏆 Competition

Dtcpay competes with Triple-A, which offers MAS-licensed, end-to-end stablecoin acceptance and settlement for merchants. Unlike isolated crypto checkout plugins, the startup provides a connected suite spanning acceptance, conversion, settlement, wallets, and cards.

Regulatory compliance serves as a primary differentiator. The platform caters to both crypto-native companies and traditional retail merchants simultaneously.

💰 Financials

The company raised a US$10 million series A funding round in March 2026. Vertex Ventures Southeast Asia & India led the investment. The startup will use the capital to expand its global stablecoin payments infrastructure.

🚩 Risks

• Dtcpay’s swap layer depends on real-time rates and upfront costs being enough to shift merchant behavior. That is not assured. Payment pricing can influence adoption, but BIS analysis of fast-payment pricing shows that visible prices also sharpen comparison and can limit margin unless offset elsewhere.
• The firm’s regulated, end-to-end positioning is a real trust asset, but it becomes harder to scale across markets. A Major Payment Institution license supports credibility in Singapore, yet each new market can bring fresh rules for acceptance, conversion, settlement, wallets, and cards.

This piece was written with the help of AI and edited by our staff based on information provided by the startup.