Velocity adds $10 million to its Series A to broaden stablecoin settlement
Its treasury platform connects payment issuers, acquirers, financial institutions and merchants that need to move money across markets.
Stablecoins in the payment stack
Velocity provides stablecoin settlement and treasury infrastructure for issuers, acquirers, payment providers, financial institutions and merchants. The backend is designed to fit into existing software and banking connections, giving these organizations a way to use stablecoins for settlement and liquidity without rebuilding their payment operations.
An extension to the Series A
The new capital extends a $38 million Series A the company announced the previous month, bringing total Series A funding to $48 million. Visa Ventures, Circle Ventures, Ripple, Haun Ventures, TransLink Capital and Mirana Ventures joined the extension; Velocity named no lead investor.
Use of funds
Extend stablecoin payment and treasury infrastructure to issuers, acquirers, payment providers, financial institutions and merchants worldwide