# PhotonPay business and regulatory expansion

> Developing situation record from CLSTR: https://clstr.news/situations/photonpay-business-and-regulatory-expansion
> Updated: 2026-10-29T12:00:00.000Z. Sources: 9. Developments: 2.

PhotonPay has achieved significant regulatory and financial milestones. In mid-October 2026, the company secured an Electronic Money Institution (EMI) licence from the UK Financial Conduct Authority, allowing it to issue electronic money and provide payment services within the United Kingdom.

By late October 2026, PhotonPay closed a $40 million Series C funding round led by Blockchain Capital, with participation from SBI Group and existing investors. The company plans to utilize this capital to expand its stablecoin-centric Financial Operating System, focusing on multi-asset wallet capabilities, global card issuing, and local clearing infrastructure. As of August 2026, the firm reported an annualized transaction volume of US$65 billion and holds 34 payment and financial licenses globally.

## Timeline

### 2026-10-29: PhotonPay secures $40 million in Series C funding

PhotonPay raised $40 million in Series C funding led by Blockchain Capital to expand its stablecoin-centric Financial Operating System and global clearing infrastructure.

9 sources. https://clstr.news/cluster/photonpay-secures-40-million-in-series-c-funding

### 2026-10-17: PhotonPay secures UK EMI licence from Financial Conduct Authority

PhotonPay has obtained an Electronic Money Institution (EMI) licence from the UK Financial Conduct Authority, enabling it to issue electronic money and expand its payment services in the UK market.

2 sources. https://clstr.news/cluster/photonpay-secures-uk-emi-licence-from-financial-conduct-authority

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Cite as: PhotonPay business and regulatory expansion. CLSTR, https://clstr.news/situations/photonpay-business-and-regulatory-expansion