London-based Velocity has raised an additional $10 million, extending its Series A to $48 million at a $200 million post-money valuation. Visa Ventures, Circle Ventures, Ripple, Haun Ventures, Translink Capital and Mirana Ventures participated in the extension. The company is developing infrastructure that allows banks and payment providers to use stablecoins for settlement, liquidity and treasury operations without replacing existing payment systems or requiring consumers to adopt crypto wallets. Chief Executive Officer Eric Queathem, drawing on his experience at Worldpay, said the payments industry has focused heavily on consumer-facing improvements while leaving the back-end layer unresolved. Stablecoin circulation has grown past $300 billion as use expands beyond crypto-exchange transfers into payments, cross-border transfers and corporate treasury activity. Velocity has raised approximately $58 million since its founding in 2025, while the article also references proposed stablecoin activity by Goldman Sachs and Bank of America and the expansion of USD1 on Canton.