Velocity Closes $48 Million Series A Funding Round with Participation from Visa, Circle, Ripple, and Others

According to CoinDesk, stablecoin payment infrastructure company Velocity announced the completion of an expansion round of its Series A financing, adding $10 million to bring the total round financing to $48 million, with a post-money valuation of $200 million. Investors in this expansion round include Visa Ventures, Circle Ventures, Ripple, Haun Ventures, Translink Capital, and Mirana Ventures, following the announcement of the initial Series A financing in July this year. Velocity is dedicated to providing stablecoin settlement, liquidity, and treasury management infrastructure to payment companies and banks, enabling them to integrate into blockchain payment networks without replacing existing systems. The head of Global Growth Products and Strategic Partnerships at Visa stated that stablecoins are reshaping how value flows within the Visa ecosystem, and Velocity is building the related infrastructure to drive the widespread adoption of stablecoin payments.