Backed by Dragonfly, FirstMark, Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures and Ripple, Velocity is helping enterprises, payment providers and financial institutions adopt stablecoin-powered treasury and settlement infrastructure.
LONDON--(BUSINESS WIRE)--Velocity, the stablecoin treasury and settlement platform bringing enterprises onchain, today announced a $38 million Series A round led by Dragonfly and FirstMark, with participation from Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple. Founded in 2025, Velocity works with global merchants, payment providers, fintechs and financial institutions looking to modernise treasury operations, reduce settlement times, eliminate prefunding requirements and move capital more efficiently across borders.
Velocity’s platform empowers CFOs and treasury teams to hold, move and settle funds using stablecoin infrastructure. While stablecoins first emerged as a faster way to move money, businesses are increasingly using stablecoin-powered systems to improve liquidity management, reduce trapped working capital, streamline global operations and access near-instant settlement in any market.
The Velocity platform combines stablecoin infrastructure with local banking rails, compliance, custody, liquidity management and settlement orchestration, allowing businesses and financial institutions to access the benefits of stablecoins without changing their core treasury operations.
This funding round brings Velocity’s total capital raised to nearly $50 million since May 2025 and unites investors from across digital assets, enterprise software, payments and traditional financial services. Their backing reflects a growing conviction that stablecoins are becoming a foundational layer of global financial infrastructure.
For Dragonfly, that conviction stems from Velocity’s ability to bridge traditional banking and payments systems with stablecoin networks.
“We first met Velocity over a year ago, and it was clear from the beginning they have a uniquely deep understanding of the global payments stack and how it can be disrupted,” said Rob Hadick, General Partner at Dragonfly. “What sets them apart is their ability to connect traditional payments and banking infrastructure with stablecoin networks and unlock significant value. We believe stablecoin adoption will be driven by global enterprises and financial institutions, and Velocity is reimagining how critical payments and commerce are executed.”
The opportunity is increasingly attracting investors beyond the digital asset ecosystem as well, including FirstMark, who has invested in platforms such as Shopify, Airbnb and Pinterest.
“The most enduring technology companies are built around shifts that fundamentally change how industries operate,” said Adam Nelson, Partner at FirstMark. “We believe stablecoins have the potential to transform the movement of money as profoundly as the internet transformed the movement of information. Velocity has all the characteristics of a category-defining company and is uniquely positioned to translate that shift into real-world infrastructure for enterprises and financial institutions.”
Drawing on decades of experience investing in global payments and fintech, QED Investors believes the next success stories will be the companies that embed stablecoin infrastructure into businesses’ current financial workflows.
“At QED we’ve backed payments businesses across dozens of markets, and the pattern is consistent: the infrastructure that wins is the infrastructure that fits into how businesses already operate. Stablecoins will fundamentally change how money moves, but only when they’re built into the workflows treasury teams already rely on. Velocity has built exactly that bridge, giving enterprises a practical path to faster settlement and more efficient global liquidity,” said Gbenga Ajayi, Partner at QED Investors.
“Every business wants faster settlement, more efficient treasury operations, lower costs and better control over global liquidity,” said Eric Queathem, Founder and CEO of Velocity. “The timing and technology are right for us to bring these features to market.”
“From day one, we have focused on the needs of CFOs and treasury teams, rather than focusing only on those who are crypto native. The adoption we’re seeing today, alongside the calibre of investors supporting us, reflects a broader shift in the market,” Queathem said. “Stablecoins are moving beyond payments and becoming core infrastructure for how businesses manage and move money globally. We fundamentally believe they will become instrumental in powering the back end of consumer payment flows.”
The company plans to use the new funding to expand its global banking and payments network, accelerate product development, deepen regulatory capabilities and support growing demand from enterprises and financial institutions adopting stablecoin-powered treasury and settlement infrastructure.
About Velocity
Velocity is the first stablecoin payments and treasury platform purpose-built for global CFOs and Treasurers. By combining regulated stablecoins with traditional financial infrastructure, the platform enables companies to move funds in real time, manage liquidity more efficiently and simplify global settlement. Velocity helps finance teams reduce FX and liquidity friction, unlock trapped capital and gain greater visibility into global cash flows.
About Dragonfly
Dragonfly is a $4B crypto-focused global investment firm. Since 2017, Dragonfly has been at the forefront of blockchain and crypto innovation with a long-term oriented, technical and research-driven approach, having been early backers of some of the most influential protocols and companies in the industry.
About FirstMark
FirstMark is an early-stage venture capital firm based in New York City. For over 20 years, the firm has backed exceptional founders building category-defining companies, including Pinterest, Shopify, DraftKings, Airbnb, Discord and Synthesia, among many others. Beyond capital, FirstMark’s purpose-built communities connect founders and operators to the highest-quality peers, delivering a durable, compounding advantage across company-building.
Contacts
Matt Larson
press@velocity.xyz