Sumsub, dtcpay team up to bolster Singapore digital currency transactions

Global verification platform, Sumsub, is partnering with dtcpay, a top Singaporean payment service provider, to amplify the security of digital currency transactions across Singapore, Hong Kong, Dubai, the UK, and Europe. With this alliance, Sumsub's e-Know Your Customer (eKYC) solution will be incorporated into dtcpay's wallet, enhancing the onboarding process for users. This collaboration ensures a smoother user experience, compliance with regulations, and the acceleration of cross-border transactions. Given the surge in cross-border payments in Asia, the partnership is strategically timed. McKinsey reports that Asia represented over 40% of the USD200bn global cross-border payments in 2021. Penny Chai of Sumsub highlighted the significance of secure, regulation-compliant payments, while Alice Liu of dtcpay praised Sumsub's role in reinforcing user trust.