Velocity extends Series A to $48M at $200M valuation with backing from Visa, Circle, and Ripple
London-based fintech firm Velocity has raised an additional $10 million in a Series A extension, bringing its total round to $48 million at a $200 million valuation. The company is building backend infrastructure to enable banks and payment providers to utilize stablecoins for settlement and treasury operations without replacing existing legacy systems.
Why it matters
This investment signals growing institutional confidence in stablecoins as a foundational layer for global financial infrastructure, moving beyond retail crypto trading into the core of traditional payment networks like Visa.
Haun Ventures, Translink Capital and Mirana Ventures also participated in the extension, which follows a $38 million Series A announced in July.
The new investment valued the London-based firm at $200 million post-money, CEO Eric Queathem told CoinDesk in an interview. The original Series A round was oversubscribed, he said.
The funding comes as stablecoins, or cryptocurrencies tied to fiat money, are becoming a bigger part of global money movement. Once used primarily by crypto traders to shift dollars between exchanges, stablecoins have grown beyond $300 billion in circulation and are increasingly being used in payments, cross-border transfers and corporate treasury operations.
Velocity is going after the infrastructure behind those transactions. Its platform is designed to let payment companies and banks use stablecoins for settlement, liquidity and treasury operations without ripping out the systems they already use.
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