The latest investment will help strengthen local clearing and compliance capabilities while extending the platform into corporate spending, embedded finance and AI-enabled commerce.
Thu 29 Oct 2026 · 09:37 EDT · 2 min read
In Finance
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Blockchain Capital has led a $40 million Series C investment in PhotonPay as the fintech expands a financial platform designed to connect stablecoins with traditional payment infrastructure.
SBI Group joined the round as a new investor, while existing investors IDG Capital, GL Ventures and Lightspeed Faction added follow-on investments, PhotonPay said Thursday. The company would direct the proceeds toward multi-asset wallets, global card issuing, local clearing infrastructure and financial tools built for AI-driven transactions.
PhotonPay recorded $65 billion in annualized transaction volume as of August 2026 and serves more than 200,000 business customers across over 200 countries and territories.
The company has secured 34 payment and financial licenses and regulatory authorizations across the Americas, Europe and Asia. Its Financial OS links stablecoin liquidity to fiat balances, foreign exchange, banking and local clearing networks, as well as programmable corporate cards.
PhotonPay issued 4.4 million cards over the past 12 months, up 275% from a year earlier, and works with more than 100 enterprise and platform partners.
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Alongside expanding its payments network, PhotonPay is developing an execution layer that would allow AI agents to access account information and coordinate payments within business-defined permissions.
The company and Mastercard completed a live demonstration of an AI-initiated payment using a tokenized PhotonPay card in May 2026. PhotonPay plans to introduce standardized financial interfaces with MCP support and policy-based controls governing authorization, spending limits and individual transactions.
The funding will also support expansion into new jurisdictions and further development of the compliance and financial infrastructure underpinning its stablecoin and fiat services.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.