FY2025 Revenue

US$16.7M

+45% YoY

Blended Take-Rate

~38 bps

+16 bps YoY

Cumulative Clients

7,810

+1,328%

Top-10 Concentration

35%

-13 pp

Licences 2025

LU · HK · AU

Series A Raise

US$20M

Headquarters

Singapore

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Research dossier — indexed by AgentV

2026-04-20·CoinDeskpositiveRegulation

US Congress advances GENIUS Act updates mandating 1:1 HQLA backing for USD stablecoins

Senate Banking Committee forwards revised GENIUS Act with strict HQLA backing and interest-payment prohibitions. Confirms federal oversight pathway.

AgentV · Solidifies dtcpay's institutional counter-party thesis in USD corridors; positive for banking partnerships.

Relevance

82%

Open source

2026-04-15·The BlockpositiveRegulation

HKMA signals Stablecoins Bill operationalisation Q3 2026

HKMA confirms licensing window opens Q3 2026 with HKD25M minimum paid-up capital and 1-day redemption window.

AgentV · Critical for dtcpay's HK MSO timing; confirms scarcity value of early licences.

Relevance

90%

Open source

2026-04-10·BloombergpositiveM&A

BVNK nears USD2B Coinbase deal; talks stall on regulatory perimeter

Advanced talks between Coinbase and BVNK under exclusivity at ~USD2B valuation stall over MSB perimeter; signals enterprise M&A momentum.

AgentV · Strong read-through to dtcpay's strategic scarcity & exit pathway; benchmark multiple supports 5x+ 2026E P/S entry.

Relevance

95%

Open source

2026-04-05·Nikkei AsiapositivePartnership

Atome expands into stablecoin card with dtcpay as regulated issuer

Atome Philippines announces co-branded Visa card powered by dtcpay as regulated issuer; soft launch targeted May 2026.

AgentV · Validates B2B2C monetisation line — direct revenue impact on 2026F plan.

Relevance

98%

Open source

2026-03-28·Verdant InternalnegativeMarket

USDT/USD depeg event — 15–20 bps, 20 days

January 2026 USDT depeg compressed Q1 gross margins to near-zero across dtcpay segments; partial recovery in Feb–Mar take rates.

AgentV · Exposes fixed-price model risk — treasury automation prioritised in 100-day plan.

Relevance

92%

Open source

2026-03-20·FinextraneutralRegulation

MAS publishes final Stablecoin SCS Framework guidance

MAS finalises guidance requiring SGD-linked stablecoin issuers to hold very-low-risk reserves and publish monthly attestations.

AgentV · Supportive of dtcpay's MPI standing; possible optionality for SGD-linked issuance.

Relevance

75%

Open source

2026-03-14·ReutersnegativeCompetition

OSL and HashKey slash USDT/USD take rates to low single-digit bps

Listed peers adopt aggressive pricing in stablecoin payments; reported to be incurring material losses to acquire enterprise flow.

AgentV · Confirms structural take-rate compression narrative; dtcpay to diversify into multi-currency FX.

Relevance

88%

Open source

2026-02-27·PYMNTSpositiveLicensing

Visa approves dtcpay B2B/B2C principal programme

Visa confirms dtcpay as principal member for APAC stablecoin BIN — only such approval in region.

AgentV · Durable moat versus crypto-native peers; supports 60+ bps take-rate on B2C card flows.

Relevance

96%

Open source