What happened

Velocity, a London-based stablecoin treasury and settlement platform founded in 2025 by former WorldPay executive Eric Queathem, raised $38 million in Series A funding. Dragonfly and FirstMark co-led the round. Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple also participated. Total funding now stands at nearly $50 million since the company's pre-seed round in May 2025.

Why it matters

Enterprise stablecoin infrastructure is becoming its own funding category. Velocity's round follows OpenFX's $94M Series A in March and Trace Finance's $32M raise in April. McKinsey and Artemis Analytics peg real-world stablecoin payment volume at $390 billion annualized , $226 billion of that in B2B flows. Velocity targets the same corporate treasurer persona that those competitors do, but distinguishes itself with a geographic expansion plan into Africa and Latin America, regions where slow correspondent banking creates the most acute demand for stablecoin settlement.

What to watch

Velocity's ability to secure money transmitter licenses and crypto-specific licenses in African and Latin American markets will determine whether its geographic bet pays off. The company also plans to launch custody infrastructure and yield-bearing stablecoin products, putting it in closer competition with firms like Anchorage and Fireblocks. With Ripple and Capital One Ventures both holding board-level observation rights, Velocity has strategic distribution channels that pure-play crypto infrastructure startups lack.

Stablecoin treasury infrastructure has moved from pilot project to battleground category in under 18 months. Velocity's geographic bet on Africa and Latin America , where correspondent banking fees eat 5-10% of cross-border transfers , is the clearest sign yet that the next phas…

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Key takeaways

• Velocity raised $38M Series A co-led by Dragonfly and FirstMark, bringing total funding to ~$50M since 2025 launch.
• Funds earmarked for regulatory expansion into Africa and Latin America plus institutional custody and yield products.
• Enterprise stablecoin infrastructure funding is accelerating: OpenFX ($94M), Trace Finance ($32M) and Velocity ($38M) all closed rounds in…

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