Key Takeaways:
Velocity, a London-based stablecoin treasury and settlement platform, has raised $38 million in Series A funding to help global enterprises move money using digital dollars without overhauling their existing treasury operations.
Velocity, founded in 2025 by Eric Queathem and Tom Greenwood, raised the round from Dragonfly and FirstMark, with participation from Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple. The company has now raised nearly $50 million since its May 2025 pre-seed round, which included backing from Stripe, Worldpay, Visa, Circle and Google.
"The most enduring technology companies are built around shifts that fundamentally change how industries operate," Adam Nelson, partner at FirstMark, said. "We believe stablecoins have the potential to transform the movement of money as profoundly as the internet transformed the movement of information."
Velocity's platform combines stablecoin infrastructure with local banking rails, compliance, custody, liquidity management and settlement orchestration. The company targets CFOs and treasury teams at global merchants, payment providers, fintechs and financial institutions looking to reduce settlement times, eliminate prefunding requirements and move capital more efficiently across borders. Its flagship product, the Stablecoin Payment Account, lets enterprises manage capital across banks, blockchains and borders from a single interface.
The funding round reflects a broader shift in how investors view stablecoins — from a niche crypto tool to a foundational layer of global financial infrastructure. Dragonfly general partner Rob Hadick said the firm sees potential for 10x growth in stablecoin payment adoption, driven by enterprises that "do not understand that they can be using stablecoins to solve their problems."
Why stablecoins are moving beyond payments
Stablecoins first emerged as a faster way to move money between crypto exchanges, but businesses are increasingly using them to improve liquidity management, reduce trapped working capital and access near-instant settlement across markets. Velocity's approach is to embed stablecoin functionality into the workflows treasury teams already rely on, rather than requiring companies to adopt crypto-native tools.
"Every business wants faster settlement, more efficient treasury operations, lower costs and better control over global liquidity," Queathem said. "The timing and technology are right for us to bring these features to market."
The competitive landscape is heating up. Stripe acquired Bridge, a similar stablecoin infrastructure provider, in 2025. Several banking-as-a-service providers are also pursuing the enterprise stablecoin market. Velocity differentiates by focusing exclusively on the needs of CFOs and treasury teams rather than crypto-native users, Queathem said.
What the funding enables
Velocity plans to use the new capital to expand its global banking and payments network, accelerate product development, deepen regulatory capabilities and support growing demand from enterprises and financial institutions adopting stablecoin-powered treasury and settlement infrastructure. The company's investor roster — spanning digital asset firms like Coinbase Ventures and Ripple alongside traditional finance players like Capital One Ventures — signals that stablecoin infrastructure is attracting capital from both sides of the traditional finance-crypto divide.
For Dragonfly, which led the round alongside FirstMark, the conviction stems from Velocity's ability to bridge traditional banking and payments systems with stablecoin networks. "What sets them apart is their ability to connect traditional payments and banking infrastructure with stablecoin networks and unlock significant value," Hadick said.
The company's May 2026 partnership with Prove, a digital identity verification firm, further strengthened its compliance framework — a critical requirement for enterprise adoption. As stablecoins move from powering crypto trading to settling cross-border corporate payments, infrastructure providers like Velocity are positioning to capture a share of the global payments market, which McKinsey estimates at more than $2 trillion in annual revenue.
This article is for informational purposes only and does not constitute investment advice.
