PANews January 12th News, according to Crowdfund Insider, stablecoin payment infrastructure provider PhotonPay announced the completion of a multi-million dollar Series B funding round. The round was led by IDG Capital, with participation from Hillhouse Investment, Enlight Capital, Lightspeed Faction, and Shoplazza. Blacksheep Technology served as the exclusive financial advisor. The company did not disclose its valuation. The new funds will be used to accelerate the expansion of its stablecoin financial payment channels, recruit key talent, and expand its global regulatory compliance layout, with a focus on the United States and some emerging markets.
PhotonPay was founded in 2015 and currently has 11 centers worldwide, with over 300 employees. The company states that its “native stablecoin” settlement infrastructure has an annualized payment processing volume of over $30 billion. It has established partnerships with financial institutions such as JPMorgan Chase, Circle, Standard Chartered, DBS Bank, and Mastercard, and plans to strengthen account issuance, acquiring, and foreign exchange services. Starting in 2026, PhotonPay also plans to launch enterprise value-added services, including idle funds yield-based financial products and flexible credit tools.
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