Velocity, a startup building treasury and settlement tools around stablecoins, has raised $38 million in a Series A round led by Dragonfly and FirstMark. The financing was announced on July 14 and included Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple.
The company says its platform is designed for corporate users that want to hold, move and settle funds with stablecoins while still connecting to traditional banking rails and compliance systems. With the new round, Velocity said its total funding since May has reached nearly $50 million.
A platform aimed at enterprise money movement
Velocity is positioning itself as infrastructure for businesses that need to move capital across both crypto and conventional financial systems. Its product is built to let companies manage fiat and stablecoin balances together rather than forcing them to replace existing treasury workflows.
According to the company, the technology is intended to cut settlement times, remove prefunding requirements and make cross-border capital movement more efficient. The platform also advertises yield on corporate funds as part of its treasury management offering.
Settlement across multiple payment rails
Beyond treasury functions, Velocity says its settlement tools can coordinate clearing across banks, card networks, payment processors and digital asset rails. The company presents that as a way to reduce foreign exchange friction while handling money movement across different systems.
That approach reflects a broader attempt to use stablecoins as a settlement layer without requiring enterprises to abandon their current banking and compliance setup. In Velocity’s pitch, the value lies in linking those systems rather than replacing them outright.
Investors and funding timeline
The Series A was led by Dragonfly and FirstMark. Other participants were Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple.
Velocity had previously emerged from stealth last year with a $10 million pre-seed led by Activant Capital. Combined with the newly announced financing, the startup said it has raised nearly $50 million since May.
What the new capital is meant to support
Velocity said the proceeds will go toward expanding its global banking and payments network, speeding up product development and strengthening its regulatory capabilities. The company linked those plans to what it described as growing demand from enterprises and financial institutions.
The next confirmed step is execution on that expansion plan. As outlined by the company, the focus now is on building out more banking and payment connections while adding product and compliance capacity for larger customers.
Source: www.theblock.co