dtcpay Shifts to Stablecoins for Payments Services
dtcpay, a Singapore-based payment institution, has recently announced a significant change in its payment services. Starting in 2025, the platform will no longer support Bitcoin and Ethereum as payment options, instead focusing solely on stablecoins and fiat currencies.
Key Points:
- dtcpay to phase out Bitcoin and Ethereum by the end of 2024.
- The platform will only accept stablecoins and fiat currencies from 2025 onwards.
Reasons for the Change
According to a report by Fintech News, dtcpay’s decision to move away from Bitcoin and Ethereum is driven by the need for stability in payment methods. The platform believes that stablecoins and fiat currencies offer a more secure and reliable payment option, aligning with the country’s regulations.
Transition to Stablecoins
Starting in January 2025, dtcpay will transition to accepting stablecoins such as USDT, USDC, Worldwide USD (WUSD), and First Digital USD (FDUSD). This move comes as a response to the increasing popularity of stablecoins among users, with a Chainalysis report indicating significant growth in payments using these asset-backed tokens.
dtcpay’s Strategic Move
dtcpay’s decision to focus on stablecoins reflects the growing trend of digital payments and the need for a reliable payment method. The platform’s reputation for innovation and consumer trust has made it a preferred choice for businesses, leading to its selection for the Mastercard Starter Path programme in October 2024.
With its commitment to providing regulated and secure payment solutions, dtcpay aims to continue its growth in the digital payment space and support businesses in accepting crypto payments.
