Velocity raises $38M Series A

Velocity, a London-based stablecoin treasury and settlement platform, raised a $38 million Series A round co-led by Dragonfly and FirstMark Capital, with participation from Activant Capital, Capital One — Capital One Ventures, QED Investors, Coinbase — Coinbase, Wintermute, and Ripple. The round brings Velocity's total funding to nearly $50 million since its founding in 2025. Velocity's platform enables enterprises, payment providers, fintechs, and financial institutions to hold, move, and settle funds using stablecoins while integrating with local banking rails, compliance, custody, and liquidity management. The company plans to use the funds to expand into Africa and Americas, enhance product development, deepen regulatory capabilities, and introduce yield-generating stablecoin products. The investor roster reflects growing interest from both crypto-native and traditional financial institutions in stablecoin infrastructure for enterprise treasury and cross-border payments.