Singapore-based digital payment company DTCpay has successfully raised $10 million to expand its compliant crypto payment infrastructure across the Asian market. According to ChainCatcher, the funds will be allocated towards strengthening compliance capabilities, enhancing product development, and expanding regional operations.
DTCpay holds a major payment institution license from the Monetary Authority of Singapore (MAS). Its platform enables merchants to accept cryptocurrencies like Bitcoin and Ethereum, with near real-time conversion to fiat currency to mitigate price volatility risks. The company plans to use the funding to bolster its Know Your Customer (KYC) and anti-money laundering systems to meet regulatory requirements across multiple jurisdictions for cross-border transactions.
Additionally, DTCpay aims to optimize its merchant payment interface and backend settlement system to improve transaction processing speed and reduce costs. The company is also focused on expanding its business presence in key Asian markets.
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