PhotonPay Closes $40 Million Series C Led by Blockchain Capital

On October 29, 2026, PhotonPay announced the close of a $40 million Series C funding round. Blockchain Capital led the round, with participation from SBI Group, IDG Capital, GL Ventures, and Lightspeed Faction. Blacksheep Technology acted as the exclusive financial advisor.

PhotonPay Series C Funding Round Details

The Hong Kong-based company, founded in 2015, will direct the new capital toward expansion of its stablecoin-centric Financial OS. Planned investments include multi-asset wallets that combine stablecoins and fiat, global card issuing, local clearing and compliance infrastructure in priority markets, and an agent-ready execution layer for AI-driven commerce. The round follows a Series B completed in January 2026 and brings total disclosed funding to several tens of millions of dollars.

PhotonPay operates an API-first platform that links stablecoin liquidity to traditional banking rails, foreign exchange, clearing networks, and card schemes. The service targets cross-border payments, corporate treasury management, spending controls, and embedded finance use cases. CEO Lewison Chen stated that stablecoins accelerate settlement while local clearing and cards enable immediate operational deployment, and the platform is designed to abstract these layers for both businesses and autonomous agents.

Blockchain Capital cited the company’s decade-long work on regulatory licenses, banking relationships, and operational infrastructure as the basis for its investment. No valuation figures were disclosed in primary announcements, though one secondary report referenced an approximate $400 million post-money figure that remains unconfirmed by the company.

PhotonPay Growth Metrics and Platform Reach

As of August 2026, PhotonPay reported an annualized transaction volume of $65 billion. The platform serves more than 200,000 business customers across over 200 countries and territories. It holds 34 payment and financial licenses or authorizations spanning the Americas, Europe, and Asia, and maintains 16 offices with approximately 600 employees.

In the twelve months prior to August 2026, the company issued 4.4 million cards, representing 275 percent year-over-year growth. It maintains partnerships with more than 100 enterprise and platform providers. These figures reflect PhotonPay’s focus on combining stablecoin settlement speed with local compliance and spending tools.

The Financial OS connects stablecoin liquidity directly to existing banking, FX, and card networks. This architecture allows businesses to move funds across borders quickly and then deploy them through local clearing or card programs without managing multiple providers. The company has positioned the platform to support future agentic workflows through standardized interfaces and policy-based controls.

PhotonPay Expansion Plans for Stablecoin Payments

PhotonPay intends to strengthen infrastructure in current markets and enter additional jurisdictions where regulatory clarity supports stablecoin operations. The company also plans to scale capabilities for corporate and embedded finance while building execution layers suitable for AI agents. Development of standardized interfaces, including potential MCP support, forms part of these efforts.

The October 29 announcement aligns with broader industry movement toward integrating stablecoins into operational financial systems. PhotonPay’s approach emphasizes regulatory licenses and banking connections as prerequisites for scaling stablecoin use beyond simple transfers. No specific timelines or revenue figures were released with the funding disclosure.