PANews reported on January 12th that PhotonPay, a stablecoin payment infrastructure provider, announced the completion of a tens of millions of US dollars 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 footprint, with a focus on the United States and several emerging markets.

Founded in 2015, PhotonPay currently operates 11 centers globally and employs over 300 people. The company claims its annualized payment processing volume, based on its "stablecoin-native" clearing and settlement infrastructure, exceeds $30 billion. It has partnered with financial institutions such as JPMorgan Chase, Circle, Standard Chartered Bank, DBS Bank, and Mastercard, and plans to strengthen its account issuance, acquiring, and foreign exchange services capabilities. Starting in 2026, PhotonPay also plans to launch value-added services for businesses, including yield-generating treasury products for idle funds and flexible credit instruments.