Payments startup Velocity has secured $38 million in a Series A funding round led by Dragonfly. The company focuses on helping businesses integrate stablecoins into their payment systems, addressing the complexities of cross-border transactions. Velocity plans to use the new capital to expand its operations into Africa and Latin America, enhance its infrastructure for secure asset custody, and develop new features like yield-generating stablecoin products. AI
IMPACT This funding could accelerate the integration of stablecoins into mainstream business payments, potentially streamlining cross-border transactions and reducing costs.
RANK_REASON Significant funding round for an AI-adjacent fintech company. [lever_c_demoted from significant: ic=1 ai=0.7]
- BlackRock
- Capital One Ventures
- Coinbase
- Eric Queathem
- Rob Hadick
- stablecoin
- Stripe
- Velocity
- Wintermute
- WorldPay
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