TL;DR
- Dtcpay will stop accepting Bitcoin and Ethereum starting in January 2025, focusing exclusively on payments with stablecoins like USDT, USDC, FDUSD, and WUSD.
- The decision is a response to the increasing use of stablecoins within its platform and user preference for more stable and secure transactions.
- Dtcpay aims to improve the security, efficiency, and scalability of its payment system, aligning with market trends and its strategic partnerships.
The Singapore-based crypto payment platform, Dtcpay, has announced a major change in its business model. Starting in January 2025, the company will stop supporting cryptocurrencies like Bitcoin and Ethereum, focusing exclusively on payments with stablecoins. This decision comes in response to the growing user preference for such assets and aligns with Dtcpay’s mission to provide a more reliable, scalable, and secure payment experience.
Launched in 2023 and licensed by the Monetary Authority of Singapore (MAS), Dtcpay initially began as a payment system supporting both cryptocurrencies and fiat currencies. However, the transition to an exclusive stablecoin model reflects a growing trend in the sector toward greater stability in digital transactions.
Starting in 2025, the platform will only accept recognized stablecoins such as Tether (USDT), USD Coin (USDC), FDUSD (a reserve-backed stablecoin issued by First Digital), and WUSD (a stablecoin issued by Worldwide Stablecoin Payment Network).
What is Hehind Dtcpay Decision?
The decision by Dtcpay also responds to internal data showing a significant increase in the use of stablecoins within its user base. According to the company, a considerable portion of its transaction volume already comes from these, making this shift a natural response to market demand.
Furthermore, the company has assured that its transition to a stablecoin-only payment model aims to provide greater security in transactions. At the same time, it seeks to offer a smoother and more efficient payment experience for users. This change is also complemented by a long-term strategy focused on improving the scalability of the platform.
Founded in 2019, Dtcpay continues to solidify its position as a key player in the digital payment ecosystem and has established strategic partnerships with companies like the Singapore-based real estate group, Pontiac Land. This decision to focus on stablecoins is part of its plan to provide payment solutions tailored to the current market needs
