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Velocity’s $38M Series A
Velocity raised $38 million in a Series A funding round to expand its stablecoin payments and treasury platform for global enterprises, according to a Tuesday (July 14) press release.
“Backed by Dragonfly, FirstMark and Coinbase Ventures, the startup is expanding software that helps businesses integrate stablecoins into treasury and payment workflows”
The company said its platform enables enterprises to retain core treasury operations while accessing stablecoins’ benefits, including the reduction of settlement times, the elimination of prefunding requirements and the ability to move capital more efficiently across borders.
Velocity will use the new funding to expand its global banking and payments network, accelerate product development, deepen regulatory capabilities, and support growing demand from enterprises and financial institutions, per the release.
Velocity’s Series A brings total capital raised since May 2025 to $50 million, and the release says Dragonfly Capital and FirstMark led the round.
Velocity founder and CEO Eric Queathem said, "Stablecoins are moving beyond payments and becoming core infrastructure for how businesses manage and move money globally," in the release.
Investors and platform scope
The Series A was led by Dragonfly and FirstMark, with participation from Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple, according to TradingView’s coverage of the round.
TradingView said Velocity plans to use the capital to expand its banking and payments network, develop new products and strengthen its regulatory capabilities, while also noting that Velocity was founded in 2025.
Crypto Briefing added that Velocity is London-based and that it plans to expand into Africa and Latin America while building out institutional custody and yield features for stablecoins.
Crypto Briefing also said Velocity is seeking licenses to support expansion into Africa and Latin America, and that additional investment will go toward custody infrastructure and products that allow businesses to earn yield on stablecoin balances.
Dragonfly general partner Rob Hadick said in the release, "We believe stablecoin adoption will be driven by global enterprises and financial institutions, and Velocity is reimagining how critical payments and commerce are executed," tying the funding to enterprise demand.
Competition and market push
The funding arrives as competition in the enterprise stablecoin market intensifies, with TradingView noting that in June more than 140 companies backed the launch of Open USD (OUSD), a dollar-pegged stablecoin supported by Visa, Mastercard, Coinbase and Ripple.
“Stablecoin treasury platform Velocity raises $38M Series A led by Dragonfly and FirstMark Share: Velocity, a London-based stablecoin treasury and settlement platform, has raised a $38 million Series A round led by Dragonfly and FirstMark, according to a company announcement”
TradingView also reported that stablecoin infrastructure investment accelerated this year, including Tether’s participation in a $5.2 million funding round for Ark Labs, and OpenFX raising $94 million in a Series A to expand a stablecoin-based foreign exchange network.
In parallel, TradingView said Trace Finance secured $32 million to expand cross-border payment infrastructure combining banking, foreign exchange and stablecoin settlement services for businesses operating across multiple markets.
Fortune framed Velocity’s pitch as helping businesses integrate dollar-pegged tokens into customer payments, quoting Rob Hadick saying, "These are companies that do not understand that they can be using stablecoins to solve their problems."
Fortune added that Velocity plans to use the new capital to obtain licenses required to expand into Africa and Latin America and to invest in infrastructure for secure asset custody and develop features such as yield-generating stablecoin products.
