Singapore-based payment processor DTCPay is expanding into Hong Kong by the end of the year and plans to open an office in Dubai by 2024. The company aims to tap into the lucrative North Asia market, leveraging clear regulations and growing interest from retail participants.
DTCPay raised $16.5 million in funding and obtained a payment institution license from the Monetary Authority of Singapore. A debit card is set to be launched in late 2023, enabling users to cash out crypto without foreign exchange fees.