Velocity raises $38 million Series A led by Dragonfly
The stablecoin treasury and settlement platform plans to expand its banking and payments network, pursue licenses in new regions and build more products for enterprise finance teams.
Velocity has raised $38 million in a Series A round led by Dragonfly and FirstMark, with participation from Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple. The financing brings the company's total capital raised to nearly $50 million since May 2025. Founded in 2025, Velocity provides stablecoin infrastructure for merchants, payment providers, fintech companies and financial institutions. Its platform links stablecoins with traditional banking systems and combines local banking rails with compliance, custody, liquidity management and settlement tools to help businesses shorten settlement times, reduce prefunding requirements and move capital across borders without overhauling existing financial operations. Velocity currently operates in the United States, parts of Europe and Australia, and plans to use the funding to expand its global banking and payments network, strengthen regulatory capabilities and develop new enterprise products. The company is also seeking licenses to support expansion into Africa and Latin America, while investing in custody infrastructure and services that let businesses earn yield on stablecoin balances.
- stablecoin: A digital token designed to maintain a stable value, often by being pegged to a fiat currency.
- prefunding: The practice of placing money in accounts ahead of time so payments or settlements can be completed.
- custody: The safeguarding and management of assets and the systems used to hold them securely.