dtcpay has announced that it will transition its payment services to stablecoins after 2025. The Singapore-based platform plans to phase out Bitcoin and Ethereum by the end of the year.
Singapore-based payment institution dtcpay has made a major announcement in 2025, Fintech News reported.
The licensed payment platform has announced that it will discontinue its relationship with digital assets Bitcoin and Ethereum as payment modes. We plan to support only stablecoins and fiat payment modes.
This movement emphasizes the stability of stablecoins and fiat currencies over the volatile nature of cryptocurrencies. Businesses and consumers will also be assured of access to more secure payment modes that comply with national regulations.
dtcpay focuses on service pivot stablecoin
In its announcement, dtcpay stated that a paradigm shift will occur in January 2025. It has announced that it will no longer accept BTC and ETH, and will specifically accept stablecoins USDT, USDC, Worldwide USD (WUSD), and First Digital USD (FDUSD).
dtcpay's decision comes amid a growing trend among users of regulated digital payment providers to turn to stablecoins. Growth is what the company is looking to capitalize on, and digital payments are seen as a new frontier in the cryptocurrency revolution.
Stablecoins accounted for a significant portion of this, with a Chainalysis report for Q2 2024 showing that asset-backed tokens accounted for an estimated $1 billion in payments.
dtcpay's strategic move is a strong indicator of the need for a stable and most reliable digital payment method. Years of trends and trust have made this platform highly trusted by consumers.
The platform's strong track record in innovation, progressive growth in the digital world, and various awards have made it a popular platform for businesses.
In October 2024, the payment platform and only Asia-based company was selected for the Mastercard Starter Pass Program. It also launched Singapore's first regulated POS that allows business owners to accept cryptocurrency payments.
