Velocity raises $38 million to bring stablecoin treasury tools to enterprises
Velocity, a London-based stablecoin treasury and settlement platform, has raised $38 million in a Series A round co-led by Dragonfly and FirstMark, the company said in a release dated July 14. Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple also took part.
The financing brings the company’s total capital raised to nearly $50 million since it came to market in May 2025, a figure that includes a $10 million pre-seed round at launch and an undisclosed strategic investment from Dragonfly in October, according to FinTech Futures.
Velocity builds infrastructure that lets corporate treasury teams hold, move and settle funds using stablecoins without replacing their existing operations, the company said. The platform combines stablecoin rails with local banking connections, compliance, custody, liquidity management and settlement orchestration, and is aimed at chief financial officers rather than crypto-native users. According to the release, customers use it to shorten settlement times, avoid prefunding requirements and move capital across borders.
Proceeds will go toward expanding the company’s global banking and payments network, product development and regulatory capabilities, the release said.
The company said its customers include global merchants, payment providers, fintechs and financial institutions, though it declined to name them, The Next Web reported. Velocity’s founder, who spent nine years at the payments processor Worldpay, where he led corporate strategy and started a crypto and global payouts division, told the publication that the company regards traditional banks and foreign exchange houses as its main competitors rather than other startups.
The raise landed a day before Cyclops, another stablecoin infrastructure company serving the payments industry, announced a $20 million Series A of its own.
