Velocity Raises $38 Million as Stablecoins Reshape Mainstream Business Finance

Velocity raised $38 million in a Series A funding round to expand its stablecoin payments and treasury platform designed for global enterprises, according to a Tuesday (July 14) press release.

The company’s platform enables enterprises to retain their core treasury operations while accessing the benefits of stablecoins, including the reduction of settlement times, the elimination of prefunding requirements and the ability to move capital more efficiently across borders, the release said.

The platform combines stablecoin infrastructure with local banking rails, compliance, custody, liquidity management and settlement orchestration, according to the release.

Velocity will 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, per the release.

Since its founding in 2025, Velocity has focused on the needs of chief financial officers and treasury teams, Velocity Founder and CEO Eric Queathem said in the release.

“Stablecoins are moving beyond payments and becoming core infrastructure for how businesses manage and move money globally,” Queathem said. “We fundamentally believe they will become instrumental in powering the back end of consumer payment flows.”

The Series A round brings the total capital raised by Velocity since May 2025 to $50 million, according to the release.

The company announced in May 2025 that it raised $10 million in pre-seed funding, and it said in October that it received an investment from Dragonfly Capital.

Dragonfly also led the Series A round along with FirstMark, according to the Tuesday press release.

Velocity has an understanding of the global payment stack and how it can be disrupted, and the company can unlock value by connecting traditional payments and banking infrastructure with stablecoin networks, Dragonfly General Partner Rob Hadick said in the release.

“We believe stablecoin adoption will be driven by global enterprises and financial institutions, and Velocity is reimagining how critical payments and commerce are executed,” Hadick said.

PYMNTS reported in January that banks and FinTechs are eyeing blockchain-native instruments for stablecoin-based payments, treasury operations and on-chain finance.

PYMNTS reported Friday (July 10) that the race to bring stablecoins into mainstream business finance faces the challenge of whether treasury departments can process them without dismantling the systems that already manage their daily cash movements.