Key takeaways:
- Velocity has raised $38 million in Series A funding to build stablecoin-powered treasury and settlement infrastructure for enterprises
- The round was led by Dragonfly and FirstMark, with participation from Coinbase Ventures, Ripple, QED Investors and others
- The funding brings Velocity’s total capital raised to nearly $50 million since the company’s founding in May 2025
Velocity, a stablecoin treasury and settlement platform, has raised $38 million in a Series A funding round to expand its infrastructure for enterprises, payment providers and financial institutions moving money onchain.
The London-based company announced the round in a statement, led by Dragonfly and FirstMark, with participation from Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple.
Founded in 2025, Velocity works with global merchants, payment providers, fintechs and financial institutions looking to modernize treasury operations, reduce settlement times, eliminate prefunding requirements and move capital across borders more efficiently.
Eric Queathem, Velocity’s founder and chief executive officer, said the company was built to serve the needs of corporate finance teams rather than crypto-native businesses alone.
“From day one, we have focused on the needs of CFOs and treasury teams, rather than focusing only on those who are crypto native. The adoption we’re seeing today, alongside the calibre of investors supporting us, reflects a broader shift in the market,” Queathem said. “Stablecoins are moving beyond payments and becoming core infrastructure for how businesses manage and move money globally.”
Velocity’s platform combines stablecoin infrastructure with local banking rails, compliance, custody, liquidity management and settlement orchestration, allowing businesses to access stablecoin benefits without overhauling their existing treasury operations.
Who are the backers of Velocity?
The round brings Velocity’s total capital raised to nearly $50 million since May 2025, drawing investors from across digital assets, enterprise software, payments and traditional finance. Rob Hadick, general partner at Dragonfly, said the firm was drawn to Velocity’s ability to bridge conventional banking 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. We believe stablecoin adoption will be driven by global enterprises and financial institutions,” Hadick said.
FirstMark, an investor in companies including Shopify, Airbnb and Pinterest, also backed the round. “We believe stablecoins have the potential to transform the movement of money as profoundly as the internet transformed the movement of information,” said Adam Nelson, partner at FirstMark, adding that Velocity has “all the characteristics of a category-defining company.”
QED Investors, which has backed payments companies across dozens of markets, said the round reflected a broader pattern in fintech infrastructure. “Stablecoins will fundamentally change how money moves, but only when they’re built into the workflows treasury teams already rely on. Velocity has built exactly that bridge,” said Gbenga Ajayi, partner at QED Investors.
What Velocity plans to do with the funding
Velocity said it will use the new capital to expand its global banking and payments network, accelerate product development, deepen its regulatory capabilities and support growing demand from enterprises adopting stablecoin-powered treasury infrastructure.
Queathem said the broader appeal of stablecoin infrastructure lies in solving problems most businesses already face.
“Every business wants faster settlement, more efficient treasury operations, lower costs, and better control over global liquidity. The timing and technology are right for us to bring these features to market,” he said, adding that he expects stablecoins to eventually power the back end of consumer payment flows as well as enterprise treasury operations.