PhotonPay has closed a $40 million Series C funding round led by Blockchain Capital, with participation from new investor SBI Group and follow-on investments from existing investors IDG Capital, GL Ventures, and Lightspeed Faction. The announcement, made via Media OutReach Newswire, signals growing institutional confidence in infrastructure that connects stablecoin liquidity with traditional financial rails. The capital will be used to expand PhotonPay's stablecoin-centric Financial Operating System (Financial OS), focusing on multi-asset wallet capabilities, global card issuing, local clearing infrastructure, and an agent-ready financial execution layer.
The importance of this funding lies in its timing. As stablecoins move beyond crypto-native use cases into corporate treasury, settlement, and commercial spending, businesses need systems that treat digital and fiat currencies as complementary rather than separate. PhotonPay's Financial OS aims to provide that convergence, linking on-chain liquidity with the banking, clearing, and card networks that companies rely on for daily operations. As of August 2026, PhotonPay's annualized transaction volume reached US$65 billion, and the company holds 34 payment and financial licenses across the Americas, Europe, and Asia, serving over 200,000 business customers in more than 200 countries and territories.
"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." The company's dual-rail infrastructure supports local collection accounts in 17 key markets and payouts in over 60 currencies, with approximately 97% of payout transactions reaching recipients within hours or the same day. Over the past 12 months, PhotonPay issued 4.4 million cards, up 275% year-over-year.
The Series C also positions PhotonPay to advance agentic commerce, where AI agents execute financial tasks within defined boundaries. In May 2026, PhotonPay and Mastercard completed a live agentic payment demonstration using a tokenized PhotonPay card. The company is now developing standardized financial interfaces, including planned support for the Model Context Protocol, and a policy-based execution framework to govern AI-initiated transactions. "AI can simplify how businesses interact with financial services, but it cannot replace the infrastructure required to deliver them," said JP Pi, Chief Compliance Officer at PhotonPay, underscoring that local financial capabilities require years of investment and regulatory engagement.
For businesses, the implication is a more unified approach to managing cross-border funds: one provider that can handle payments across currencies and markets, whether through bank transfers, stablecoins, or cards. "PhotonPay's ability to bring these capabilities together gives it a strong advantage as businesses adopt stablecoins for everyday payments," said Yuanhan Li, Partner at Blockchain Capital. SBI Group's participation further signals a strategic bet on bridging digital assets with traditional finance. More details about PhotonPay's infrastructure are available at www.photonpay.com.
