Velocity, a stablecoin treasury and settlement platform, has raised $38 million in a Series A funding round led by Dragonfly and FirstMark, with participation from Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple.
The startup, founded in 2025, has now raised nearly $50 million since May, according to an announcement on Tuesday.
Velocity is among a number of companies looking to enable enterprises, payment providers, and financial institutions to hold, move, and settle funds using stablecoins while connecting to traditional banking rails and compliance systems.
"We first met Velocity over a year ago, and it was clear from the beginning they have a uniquely deep understanding of the global payments stack and how it can be disrupted," Dragonfly General Partner Rob Hadick said. "What sets them apart is their ability to connect traditional payments and banking infrastructure with stablecoin networks and unlock significant value."
Hadick also noted Velocity is "reimagining how critical payments and commerce are executed."
