This startup makes stablecoin transactions usable for retail

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

Image credit: Timmy Loen

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.

Image credit: Dtcpay

📊 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

💰 Financials

🚩 Risks