$38m · Series A · Fintech · London, UK
London-based Velocity has raised $38m in Series A funding co-led by Dragonfly and FirstMark. Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple also participated. The stablecoin treasury and settlement company told Fortune that it will use the capital to pursue licences for expansion into Africa and Latin America, strengthen secure custody infrastructure and develop products including yield-bearing stablecoin tools.
This is the original July Series A. Velocity later raised a separate $10m extension in September, taking the round to $48m; that later tranche is covered in a separate EUVC brief.
Stablecoins become a treasury integration problem
Velocity is building infrastructure for global merchants, payment providers, fintechs and financial institutions that want to use stablecoins without running a separate crypto operation. Its funding announcement describes one system connecting banks, blockchains, custody, liquidity and conventional payment rails.
The customer problem is broader than transaction speed. Cross-border businesses hold balances across currencies and jurisdictions to make payouts on time, creating foreign-exchange costs, idle working capital and fragmented visibility. Stablecoin settlement can move value continuously, but the enterprise still needs compliant conversion, secure custody, accounting data and reliable access to local banking endpoints. Velocity’s product is therefore an orchestration layer: it hides several regulated and technical dependencies behind one integration.
Coverage can compound, but every market adds work
Commercially, each new licence, banking relationship and liquidity connection can make the same platform useful across more payment corridors. That gives Velocity a path to reuse infrastructure while customers consolidate providers. The investor group also spans crypto networks, venture firms and conventional finance, which can help with distribution and counterparties.
The constraint is that treasury infrastructure is judged on reliability, not novelty. Fortune reported that Velocity was already operating in the US, parts of Europe and Australia, but the company did not name customers or disclose payment volume. Expansion into Africa and Latin America will require jurisdiction-specific licensing, liquidity and payout coverage. The decisive evidence will be whether Velocity can add those corridors without turning each enterprise deployment into a bespoke compliance and integration project.
Explore this theme
Stablecoins: Rewiring global money movement — Northzone, hosted on EUVC · 20 October 2025. The analysis explains why enterprise treasury and settlement infrastructure may capture value as stablecoins move into real business workflows.
Sources checked:
Fortune original reporting · Velocity / Business Wire announcement · Tech.eu Funding Explorer
