[PhotonPay Completes Tens of Millions of Dollars in Series B Financing, Led by IDG Capital]
Stablecoin payment infrastructure provider PhotonPay announced the completion of tens of millions of dollars in Series B financing, 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 funds will be used to expand stablecoin payment channels, recruit key talent, and strengthen global regulatory compliance efforts, with a focus on the U.S. and certain emerging markets.
Founded in 2015, PhotonPay currently operates 11 centers worldwide with a team of over 300 employees. Its "stablecoin-native" clearing and settlement infrastructure has an annualized payment processing volume exceeding $30 billion and has established partnerships with financial institutions such as JPMorgan Chase, Circle, Standard Chartered Bank, DBS Bank, and Mastercard.
The company plans to launch enterprise value-added services starting in 2026, including idle fund yield treasury products and flexible credit tools.