PhotonPay Raises $40M Series C to Expand Stablecoin Payments
The Hong Kong-based payment service provider will use the fresh capital to scale its stablecoin payment business, though investors and closing details were not disclosed.
Hong Kong-based payment service provider PhotonPay has completed a $40 million Series C funding round, with the proceeds earmarked for expanding its stablecoin payment business. According to Fintech News HK, the specific investors and closing timeline were not disclosed in the report.
PhotonPay positions itself as a cross-border payment platform for enterprises, with stablecoin settlement listed as a key focus of this expansion. Stablecoin usage in cross-border settlement continues to rise, with currencies such as USDC and USDT having become one of the clearing options for some payment service providers (PSPs).
For payment service providers, expanding stablecoin channels also brings compliance costs: KYC and anti-money laundering screening at the on- and off-ramp stages, as well as on-chain fund attribution and non-repudiation requirements, all need to be completed before settlement. PhotonPay did not disclose the specific transaction volume or covered markets of its stablecoin business.
Source: https://fintechnews.hk/41606/funding/photonpay-series-c-stablecoin-blockchain-capital/
Provenance & status
- Byline
- OceanAlt Editorial
- First published
- 2026-10-30
- Last updated
- 2026-10-30
- Content type
- Newsflash
- Source material
- View original ↗
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