According to the Business Times, Singaporean cryptocurrency payment provider dtcpay (formerly Digital Treasures Center) completed a Pre-A round of financing of US$16.5 million, led by Kwee Liong Tek, chairman of Pontiac Land, and participated in the investment, including former managing director and partner of Carlyle Group David Tung, Burgess Asia Chairman Jean-Marc Poullet and former KPMG Singapore and Asia Pacific Chairman Tham Sai Choy. This round of financing will be used for product development, strengthening operational capabilities, and expanding its global influence. Foresight News previously reported that Digital Treasures Center announced in March this year that it was licensed by the Monetary Authority of Singapore (MAS) to operate digital payment token services. The company will be able to provide account opening, merchant acquisition, domestic remittance, cross-border remittance, electronic currency issuance and Digital payment token service.