PhotonPay just closed a $40 million Series C.
The round was led by Blockchain Capital, with new investor SBI Group and existing investors IDG, GL Ventures, and Lightspeed Faction participating. The original announcement is on PR Newswire.
What does it do? A financial OS built around stablecoins—multi-asset wallets, cross-border settlement, card issuance, and local clearing, connecting on-chain liquidity to businesses’ everyday spending and payments.
The hard numbers (as of August 2026): $65 billion in annualized transaction volume; 34 payment/financial licenses; over 200,000 business customers across 200+ countries and regions; 4.4 million cards issued in the past 12 months, up 275% year over year.
CEO Lewison Chen put it in a nutshell: stablecoins solve how money moves; AI solves how money gets put to use—and commerce is the endgame. In May, the company also did a live-network demo of agentic payments with Mastercard.
In the stablecoin infrastructure space, money is still flowing to players who can connect to fiat clearing networks. This is for screening, not education, and does not constitute investment advice.
The round was led by Blockchain Capital, with new investor SBI Group and existing investors IDG, GL Ventures, and Lightspeed Faction participating. The original announcement is on PR Newswire.
What does it do? A financial OS built around stablecoins—multi-asset wallets, cross-border settlement, card issuance, and local clearing, connecting on-chain liquidity to businesses’ everyday spending and payments.
The hard numbers (as of August 2026): $65 billion in annualized transaction volume; 34 payment/financial licenses; over 200,000 business customers across 200+ countries and regions; 4.4 million cards issued in the past 12 months, up 275% year over year.
CEO Lewison Chen put it in a nutshell: stablecoins solve how money moves; AI solves how money gets put to use—and commerce is the endgame. In May, the company also did a live-network demo of agentic payments with Mastercard.
In the stablecoin infrastructure space, money is still flowing to players who can connect to fiat clearing networks. This is for screening, not education, and does not constitute investment advice.