Svmuu News: Velocity, a stablecoin payment infrastructure startup, announced the completion of a $38 million Series A funding round. The round was led by crypto investment firm Dragonfly, with participation from Coinbase, Capital One Ventures, and Wintermute, among others.Velocity CEO Eric Queathem did not disclose the company’s post-funding valuation. Founded in 2025, Velocity focuses on providing stablecoin payment solutions to enterprises, payment service providers, fintech companies, and financial institutions, helping them optimize cross-border payments, fund settlement, and cash management processes using U.S. dollar-pegged tokens.
Currently, Velocity operates in the United States, parts of Europe, and Australia. Moving forward, the company plans to use the new funding to apply for licenses and expand its operations into Africa and Latin America, while also investing in building more secure asset custody infrastructure and developing new features, including stablecoin yield products. (Fortune)