Velocity, the stablecoin payments and treasury platform, has closed a $10m extension to its Series A round, with backing from Visa Ventures, Circle Ventures, Ripple, Haun Ventures, Translink Capital and Mirana Ventures.
The fresh capital follows Velocity’s $38m Series A announced last month, taking the company’s total Series A funding to $48m. The extension will support Velocity’s efforts to bring stablecoin infrastructure to issuers, acquirers, payment providers, financial institutions and merchants around the world.
The participation of Circle Ventures and Ripple links Velocity with two established players in regulated stablecoins, spanning payments, liquidity and institutional finance. Translink Capital’s involvement gives Velocity a strategic connection into its network of corporate and institutional partners across Asia.
Together, the backers share a view that the next stage of stablecoin adoption will hinge not just on the underlying assets and blockchains, but on the infrastructure that links them to the banking, treasury and settlement systems institutions already rely on.
Haun Ventures brings experience from backing several generations of stablecoin and financial infrastructure companies, including previous investments in Bridge and BVNK. Its investment in Velocity reflects a belief that stablecoins will become increasingly woven into the systems that underpin payments, banking and treasury.
Velocity builds infrastructure that lets institutions and businesses use stablecoins for settlement, liquidity and treasury functions, without needing to overhaul their existing systems. The platform aims to make the flow of money behind payments more continuous, cut dependence on prefunding and push settlement beyond the hours traditional banking allows.
With its Series A now totalling $48m, Velocity plans to keep expanding its platform and broadening its reach across the global payments and treasury landscape. The company’s ambition is to embed stablecoins seamlessly into how institutions move and manage money, linking issuers, acquirers, merchants and financial institutions through infrastructure built for continuous, global settlement.
Velocity founder and CEO Eric Queathem said, “We are excited to welcome several new investors to Velocity, including Visa through Visa Ventures. From day one, we have focused on improving how money moves through the payments ecosystem. These investors operate at the center of that ecosystem and will provide invaluable insight as we use stablecoins to transform the experience.”
Visa global head of growth products and strategic partnerships Rubail Birwadker said, “Stablecoins are playing an increasingly important role in reshaping how value moves across the Visa ecosystem, and companies like Velocity are helping accelerate adoption and unlock new opportunities for our customers and partners. We’re excited to invest in Eric and the Velocity team as they build the infrastructure needed to bring stablecoin-powered money movement to every business.”
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