Blockchain Capital leads $40 million round for stablecoin fintech PhotonPay

The latest investment will help strengthen local clearing and compliance capabilities while extending the platform into corporate spending, embedded finance and AI-enabled commerce. 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.