PhotonPay secures $40m Series C to expand global payment

By Divya Shah

Why it matters: The funding highlights growing enterprise adoption of stablecoins, embedded finance and AI-driven financial operations, accelerating the convergence of digital assets and traditional payment infrastructure.

PhotonPay, a global payments infrastructure provider, raised $40 million in a Series C funding round led by Blockchain Capital, with participation from new investor SBI Group and follow-on investments from IDG Capital and Lightspeed Faction. 

The company said the new funding will support the expansion of its stablecoin-centric Financial Operating System (Financial OS). Investment will focus on enhancing multi-asset wallet capabilities, expanding global card issuing, strengthening local clearing infrastructure in key markets, and developing an agent-ready financial execution layer. 

As of August 2026, PhotonPay reported annualised transaction volume of $65 billion. The company also holds 34 payment and financial licences and regulatory authorisations across the Americas, Europe and Asia, serving more than 200,000 business customers in over 200 countries and territories. 

PhotonPay said it sees the future of global finance as a convergence of stablecoins and traditional currencies. Its Financial OS is designed to connect on-chain liquidity with banking, clearing and card networks, allowing businesses to access and manage funds through a unified infrastructure. 

“Moving money across borders in seconds means little if it still takes days to put that capital to work,” said Lewison Chen, founder and CEO of PhotonPay. “Stablecoins are accelerating global money movement, while local clearing and global card issuing connect that liquidity to local settlement and everyday business spending. Our Financial OS brings these capabilities together, making the underlying infrastructure far less visible to businesses, even as it becomes more essential than ever.” 

PhotonPay’s platform combines multi-asset wallets, global payments, foreign exchange, local clearing and global card issuing through an API-first architecture. The company said this enables businesses to manage and deploy funds more efficiently across international markets. 

“At the same time, business software is becoming increasingly autonomous,” Chen added. “AI is shifting financial workflows from people manually operating fragmented tools toward systems that understand business intent and coordinate execution across assets, accounts and financial rails. That creates the foundation for agentic commerce. Stablecoins change how money moves. AI changes how it gets put to work. But commerce is still what money is for.” 

The company’s multi-asset wallet links stablecoin liquidity with fiat balances, integrating foreign exchange, asset conversion and local clearing into a single workflow. Businesses can use the platform to move funds across both blockchain-based and traditional financial networks. 

Supporting these capabilities is PhotonPay’s global financial network, which allows businesses to open local collection accounts in 17 markets and receive payments in more than 60 currencies. The network supports over 100 payout routes spanning local clearing systems, bank transfers and digital wallets. 

PhotonPay has also expanded its card issuing business, enabling companies to issue virtual and physical cards through APIs and embed payments into software platforms. Over the past year, the company issued 4.4 million cards, representing 275% year-on-year growth. 

In addition to its direct payment offerings, PhotonPay provides embedded finance services that allow technology platforms to integrate global accounts, payment capabilities and card issuing into their own products. The company currently serves more than 100 enterprise and platform partners.