PhotonPay raises $40m for stablecoin-centric financial OS

Stablecoin-centric financial operating system PhotonPay has raised $40 million in a Series C funding round led by Blockchain Capital.

SBI Group IDG Capital, GL Ventures, and Lightspeed Faction joined the round for the Hong Kong-based outfit.

Founded in 2015, PhotonPay’s API-first architecture brings together multi-asset wallets supporting stablecoins and fiat currencies, global money movement, foreign exchange, global card issuing, embedded finance, and local clearing infrastructure,

The firm, which employees nearly 600 people in offices around the world has secured 34 payment and financial licenses and regulatory authorisations in the Americas, Europe and Asia. It serves over 200,000 business customers across more than 200 countries and territories, and, as of August, hit an annualised transaction volume of $65 billion.

It is now eying agentic commerce: in May it worked with Mastercard on a live agentic payment demonstration using a tokenised PhotonPay card, validating AI-initiated transactions across existing global card networks.

The new funding 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.

Lewison Chen, CEO, PhotonPay, says: “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.

“At the same time, business software is becoming increasingly autonomous. 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.”

Source: https://www.finextra.com/newsarticle/48671/photonpay-raises-40m-for-stablecoin-centric-financial-os