Stablecoin payment infrastructure Velocity closes $38 million Series A round led by Dragonfly

Comparatively, stablecoin payment infrastructure startup Velocity announced the completion of a Series A round of financing of 38 million US dollars, led by crypto investment firm Dragonfly, with the participation of institutions such as Coinbase, Capital One Ventures, and Wintermute. Velocity CEO Eric Queathem did not disclose the latest funding estimates. Established in 2025, Velocity focuses on providing stablecoin payment solutions for enterprises, payment service providers, fintech companies, and financial institutions to help them optimize cross-border payments, fund settlement, and fund management processes using USD-linked tokens.

Currently, Velocity has covered the US, parts of Europe, and the Australian market. In the future, it plans to use the new capital to apply for licenses, expand its business in Africa and Latin America, invest in building more secure asset custody infrastructure, and develop new features including stablecoin yield products.