PhotonPay lands $40M Series C for stablecoin payments push

What's the deal? PhotonPay, a Hong Kong fintech building a stablecoin-centric financial operating system, has raised $40 million in a Series C round led by Blockchain Capital. New investor SBI GroupDealroom has a profile for this one. Try Dealroom → joined alongside follow-on backers IDG Capital, GL VenturesDealroom has a profile for this one. Try Dealroom →, and Lightspeed FactionDealroom has a profile for this one. Try Dealroom →.

What's the endgame? The company connects stablecoin liquidity with traditional banking, clearing, and card networks, letting businesses move and deploy funds across markets. The new capital will fund multi-asset wallets, global card issuing, local clearing, and an agent-ready financial execution layer for AI-driven workflows.

Founded in 2015, PhotonPay reports annualised transaction volume of $65 billion as of August 2026. It holds 34 payment and financial licenses across the Americas, Europe, and Asia, and serves more than 200,000 business customers across over 200 countries and territories.

What's chief executive officer Lewison Chen saying? "Moving money across borders in seconds means little if it still takes days to put that capital to work," he said. Chen framed the next phase of finance not as a choice between stablecoins and fiat, but as "the convergence of both."

Why now? The raise follows a January 2026 Series B. It lands as stablecoins move from crypto-native use into corporate treasury, settlement, and commercial spending.

What could go wrong? The market is crowded. Stripe is applying stablecoin infrastructure to corporate settlement, while specialists such as Rain and MassPayDealroom has a profile for this one. Try Dealroom → expand similar services. The round is a substantial follow-on, but the announcement alone does not establish adoption or set PhotonPay apart.

The signal: The $40 million round sits in the upper tier of recent deals by size, reflecting investor appetite for infrastructure that ties digital-asset liquidity to familiar payment rails.

Read more: centralcharts.com

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