Stablecoin payment startup Velocity has completed a $38 million Series A funding round, led by Dragonfly

According to Fortune magazine, stablecoin payment infrastructure startup Velocity announced the completion of a $38 million Series A funding round, led by crypto investment firm Dragonfly, with participation from institutions such as Coinbase, Capital One Ventures, and Wintermute. Velocity CEO Eric Queathem did not disclose the latest funding valuation.

Founded in 2025, Velocity focuses on providing stablecoin payment solutions for businesses, payment service providers, fintech companies, and financial institutions, helping them optimize cross-border payments, fund settlement, and fund management processes using dollar-pegged tokens. Currently, Velocity has covered markets in the United States, parts of Europe, and Australia, with plans to use the new funds to apply for licenses to expand into Africa and Latin America, while also investing in building a more secure asset custody infrastructure and developing new features, including stablecoin yield products.