The approval will pave the way for the firm to offer electronic money issuance, payment services, and cross-border transfers across the European Economic Area (EEA).
dtcpay is the first Singaporean Major Payment Institution to receive such authorisation in Luxembourg. The move comes as Luxembourg and Singapore mark 50 years of diplomatic relations in 2025, further reinforcing growing ties between the two financial centres.
According to dtcpay, the decision to establish its European operations in Luxembourg reflects the jurisdiction’s recognised role as a hub for cross-border finance and its supportive regulatory framework.
“By establishing our European hub, we’re leveraging a forward-thinking financial ecosystem to deliver secure payment solutions that connect Web2 and Web3,” said Alice Liu, Group CEO of dtcpay.
According to Amanda Yeung, Luxembourg Country Manager and European Regional Manager of dtcpay, the “EMI license marks a pivotal step in our mission to transform global payments, and we’ll continue to explore further opportunities, including pursuing a CASP license under the EU’s MiCA framework, to strengthen our role in Europe’s evolving digital economy.”