dtcpay to stop BTC, ETH between services shift

dtcpay has announced that it will only switch its payment services to stable 2025. The Singapore-based platform will remove Bitcoin and Ethereum by the end of the year.

Singapore-based payment institution dtcpay no longer supports Bitcoin and Ethereum as payment modes.

According to a report from Fintech News, the licensed payment platform move will be implemented in 2025. It intends to support stable coin and fiat currency payment modes.

The move focuses on the stability of stablecoins and fiat currency rather than on the volatile nature of crypto. Business operators and consumers are also guaranteed a more secure payment method and compliance with the country's laws.

dtcpay eyes stable coin in the pillar of services

In the announcement dtcpay mentioned that come January 2025 there will be a paradigm shift. Announcing the cancellation of accepting Bitcoin and Ethereum, it intends to accept stablecoins USDT, USDC, Worldwide USD (WUSD) and First Digital Dollar (FDUSD) among others. .

dtcpay's decision comes as the digital payment provider has increasingly seen users gravitate towards stotocoins. The growth is what the company is looking to tap into, with digital payments seen as the new frontier of the revolution that is crypto.

Stablecoins will make up a big chunk of this, with a Chinalysis report for Q2, 2024 indicating that asset-backed tokens will take an estimated $1 billion in fees.

The strategic move of dtcpay is an indication of the need for a stable and highly secure digital payment method.

The platform's excellent track record in innovation, growing growth in the digital world and various awards have proved popular with the business.

In October 2024, the payment platform, and the only company based in Asia, was selected for the MasterCard Launch Path program. It has also become the first to launch a controlled POS in Singapore that allows business owners to accept crypto payments.