Velocity raises $38M for stablecoin platform

• Velocity raised US$38 million in a Series A funding round.
• The money will help expand its stablecoin treasury and payments platform for businesses.
• The company plans to grow its banking network, build new products and strengthen regulatory capabilities.

Velocity has raised US$38 million in Series A funding to expand its stablecoin treasury platform for businesses and financial institutions.

Dragonfly and FirstMark led the round, with support from Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple.

"Every business wants faster settlement, more efficient treasury operations, lower costs and better control over global liquidity," said Velocity founder and chief executive Eric Queathem.

Velocity said it will use the funding to expand its banking network, speed up product development and strengthen its regulatory capabilities.

The company said the latest funding brings its total capital raised to nearly US$50 million since launching in 2025.

Founded in 2025, Velocity builds software that connects stablecoins with banking, custody, compliance and settlement systems.

The platform is designed for merchants, payment providers, fintech companies and financial institutions using stablecoins for treasury and cross-border payments.