The Singapore-based startup Dtcpay is set to launch a new payment system compatible with both cryptocurrencies and traditional fiat currencies. The company has partnered with PlatON, a blockchain platform, and Allinpay International, to create a privacy-focused digital payment infrastructure. A significant aspect of this partnership is developing smart POS terminals that support various digital currencies like Tether (USDT), Ethereum (ETH), and Bitcoin (BTC).

Known previously as Digital Treasures Center, Dtcpay is expanding its reach in digital currency payments, allowing transactions in both digital and traditional forms. It has also collaborated with Sumsub, a verification platform, to bolster transaction security, targeting markets in Singapore, Hong Kong, Dubai, the UK, and Europe.

Additionally, Dtcpay has partnered with Jeripay to integrate cryptocurrency into Jeripay's extensive terminal network. These developments occur amidst evolving cryptocurrency regulations in Singapore, aimed at enhancing consumer protection. Major crypto firms like Coinbase and Ripple are licensed by the Monetary Authority of Singapore (MAS), which is also exploring central bank digital currencies (CBDCs).

Project Orchid, a MAS initiative on retail CBDCs, has completed its first phase, focusing on creating digital currencies for specific uses. Despite retail CBDCs not being mainstream, there's growing interest in digital currencies not tied to the Singaporean dollar. MAS is keeping pace by investigating programmable digital currencies for specific use cases.