Velocity, the stablecoin treasury and settlement platform founded in 2025, has closed a $38million Series A led by Dragonfly and FirstMark. The round also drew in Capital One Ventures, Coinbase Ventures, QED Investors, Activant Capital, Ripple and Wintermute Ventures, and brings Velocity’s total capital raised to nearly $50million since its inception last May.
The company targets CFOs and corporate treasury teams rather than crypto-native users. Its platform combines stablecoin infrastructure with local banking rails, compliance tooling, custody, liquidity management and settlement orchestration. The stated proposition is that enterprises can access near-instant cross-border settlement and reduce prefunding requirements without overhauling their existing treasury workflows.
The deal
Eric Queathem, founder and chief executive of Velocity, said the company’s focus has always been on treasury professionals rather than on the crypto-native segment. “Stablecoins are moving beyond payments and becoming core infrastructure for how businesses manage and move money globally,” he said. “We fundamentally believe they will become instrumental in powering the back end of consumer payment flows.”
Rob Hadick, general partner at Dragonfly, described Velocity’s differentiator as its ability to connect legacy payments and banking infrastructure with stablecoin settlement networks. QED Investors partner Gbenga Ajayi, drawing on the firm’s cross-market payments portfolio, framed the opportunity around workflow integration: treasury infrastructure that wins, he argued, is infrastructure that fits into processes teams already use.
Velocity plans to deploy the proceeds across four areas: expanding its global banking and payments network, accelerating product development, deepening regulatory capabilities and servicing growing enterprise demand.
Market context
The most notable signal in the investor list is Capital One Ventures. The US card-issuing giant has not previously committed capital to the stablecoin sector, and its participation signals that at least some mainstream financial institutions are moving from observation to conviction. That is a meaningful data point at a time when stablecoin regulation in the United States is still forming: the Senate is advancing legislation that would create a federal licensing framework for stablecoin issuers, while the EU’s Markets in Crypto-Assets regulation has already created a compliance baseline for euro-denominated stablecoins in Europe.
Velocity is entering a competitive space. Established cross-border payment providers such as Nium, Thunes and Airwallex already address treasury friction and trapped-capital problems through conventional rails, while a cohort of stablecoin-native infrastructure firms, including Bridge (acquired by Stripe in late 2024) and BVNK, are building similar enterprise-facing settlement layers. The commercial question for Velocity is whether the stablecoin rail delivers a measurable cost or speed advantage that justifies switching costs for finance teams currently served by incumbent processors and correspondent banking networks.
The calibre of the investor syndicate lends credibility to Velocity’s positioning, but the company did not disclose revenue, transaction volumes or named enterprise customers in its announcement. Those metrics will matter when assessing whether the platform’s traction matches the fundraising narrative. Velocity’s next milestones to watch are regulatory approvals in target markets, the expansion of its banking network and any publicly named partnerships with payment processors or financial institutions.