Key Points:
The investment was led by Kwee Liong Tek, the chairman of luxury real estate firm Pontiac Land Group, which owns properties such as the Capella Hotel Group and Millennia Singapore. The latter is the proud owner of the Ritz-Carlton and Conrad hotels in Singapore.
The investment will be used for product development and for expanding the company’s reach globally. Since its inception in 2019, dtcpay has offered payment processing services for users who transact in both fiat and crypto.
In addition to Kwee Liong Tek, other notable investors in this funding round include David Tung, former managing director and partner at The Carlyle Group, Burgess Asia chairman Jean-Marc Poullet, and Tham Sai Choy, former KPMG Singapore and Asia-Pacific chairman. These are all well-respected names in the industry.
Although the reports did not include a valuation, it is clear that dtcpay has secured a significant amount of funding that will enable it to grow and expand its services. With the new investment, dtcpay plans to focus on product development and to explore new opportunities for growth in the global market.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
Coincu News
A Supreme Court ruling weakens Chevron deference, potentially affecting SEC regulations. Due to reduced SEC…
The SEC sues Consensys for unregistered securities transactions via MetaMask, violating federal laws. Over $250M…
21Shares and VanEck have filed for a Spot Solana ETF with the SEC. If approved,…
Fetch.ai's FET assets will automatically convert to ASI tokens on July 1, 2024, as part…
VanEck Solana ETF application flags the risk of market price impact due to the top…
Despite equities rallying due to lowered US PCE Inflation, Bitcoin's price remained steady, with long-term…
This website uses cookies.
