Velocity, a stablecoin treasury and settlement platform targeting enterprise payments infrastructure, has raised $38m in Series A funding as businesses explore alternatives for cross-border settlement and liquidity management.
The round was co-led by Dragonfly and FirstMark, with participation from Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple. The raise brings Velocity’s total funding to almost $50m since the company was founded in May 2025.
Founded in 2025, London-based Velocity provides infrastructure for merchants, payment providers, FinTech companies and financial institutions looking to use stablecoins within existing treasury operations. Its platform enables businesses to hold, transfer and settle funds using stablecoin networks, while connecting those flows with banking infrastructure, compliance processes, custody, liquidity management and settlement systems.
The company is targeting a growing interest among enterprises in using stablecoins for payments and treasury operations, as firms look to reduce settlement times, manage liquidity across markets and improve visibility over global cash positions.
Velocity said its platform is designed to allow CFOs and treasury teams to adopt stablecoin-based settlement without replacing existing financial workflows. The technology combines stablecoin infrastructure with traditional banking connections to support cross-border money movement and settlement.
The funding will be used to expand Velocity’s banking and payments network, accelerate product development, strengthen regulatory capabilities and support enterprise adoption.
Dragonfly general partner Rob Hadick said, “We first met Velocity over a year ago, and it was clear from the beginning they have a uniquely deep understanding of the global payments stack and how it can be disrupted. What sets them apart is their ability to connect traditional payments and banking infrastructure with stablecoin networks and unlock significant value.”
FirstMark partner Adam Nelson commented, “The most enduring technology companies are built around shifts that fundamentally change how industries operate. We believe stablecoins have the potential to transform the movement of money as profoundly as the internet transformed the movement of information.”
QED Investors partner Gbenga Ajayi said stablecoin adoption will depend on infrastructure that integrates with existing business processes, adding that Velocity has built a platform designed around treasury workflows.
Velocity founder and CEO Eric Queathem added that the company has focused on the needs of CFOs and treasury teams rather than only crypto-native users.
“Stablecoins are moving beyond payments and becoming core infrastructure for how businesses manage and move money globally,” Queathem said.
The funding comes as stablecoins continue to move beyond digital asset markets into areas including payments, settlement and financial infrastructure, with enterprise providers building platforms aimed at connecting blockchain-based systems with traditional financial networks.
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