Stablecoin Infrastructure Startup Velocity Raises $38 Million
On July 14, Velocity, a startup developing stablecoin-based treasury management and settlement infrastructure, announced that it had raised $38 million in a Series A round co-led by Dragonfly and FirstMark. The latest investment brings the company’s total funding since its launch in 2025 to nearly $50 million.
The round also included participation from several major investors, including Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple. Velocity plans to use the funds to expand its global banking and payment network, accelerate product development and strengthen its regulatory compliance capabilities.
Building Stablecoin Infrastructure for Businesses
Unlike many stablecoin projects targeting individual users, Velocity focuses on solving financial operational challenges for businesses. The platform provides infrastructure that allows companies, fintech firms, payment service providers and financial institutions to hold, transfer and settle funds using stablecoins while maintaining direct connections to traditional financial systems. Instead of requiring companies to completely redesign their existing treasury processes, Velocity integrates stablecoins into established banking, custody, compliance, liquidity management and settlement infrastructure.
This allows businesses to use stablecoins for treasury operations and cross-border payments without significantly changing their workflows. The platform aims to accelerate settlement, eliminate the need for prefunding, reduce foreign exchange costs and manage fiat and stablecoin balances within a single system.
Velocity founder and CEO Eric Queathem said the company was built for corporate finance executives and treasury teams rather than exclusively for cryptocurrency companies.
“Stablecoins are moving beyond payments to become core infrastructure for how businesses manage and move money globally.”
Competition in Enterprise Stablecoin Infrastructure Intensifies
Velocity’s funding comes as competition to build enterprise stablecoin infrastructure continues to grow.
In June, Open Standard, an alliance of more than 140 companies from traditional finance and the cryptocurrency industry, launched the Open USD stablecoin, or OUSD. The initiative is supported by major companies including Visa, Mastercard, Coinbase and Ripple. OpenFX previously raised $94 million to expand its stablecoin-based foreign exchange network for corporate cross-border payments. Trace Finance also secured $32 million to develop payment infrastructure combining banking, foreign exchange and stablecoins.
According to a report by McKinsey and Artemis Analytics, real-world stablecoin payments reached an annualised volume of approximately $390 billion in 2025. Business-to-business transactions accounted for around $226 billion. The figures indicate that stablecoins are playing an increasingly important role in cross-border payments and corporate treasury management worldwide
