Velocity raised $38 million in a Series A round led by Dragonfly and FirstMark to expand its enterprise stablecoin treasury and settlement platform as investment in payment infrastructure accelerates.

Dragonfly led the Series A round, with backing from Coinbase and Capital One.

London-based Velocity closes $38M Series A to build stablecoin payment infrastructure for enterprises, backed by Dragonfly, Stripe, Visa, and Google.