Stablecoin Payment Startup Velocity Raises $38 million in Series A Funding Round Led by Dragonfly

BlockBeats News, July 14th. According to Fortune magazine, stablecoin payment infrastructure startup Velocity announced the completion of a $38 million Series A funding round. This round was led by crypto investment firm Dragonfly, with participation from 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 to enterprises, payment service providers, fintech companies, and financial institutions, helping them optimize cross-border payments, fund settlement, and treasury processes using USD-pegged tokens. Currently, Velocity operates in the U.S., parts of Europe, and the Australian market. With the new funding, the company plans to apply for licenses, expand its presence in Africa and Latin America, enhance asset custody infrastructure security, and develop new features including stablecoin yield products.