Velocity raises $48M Series A with Visa, Circle and ripple

Velocity has raised another $10 million to expand its stablecoin payments and treasury infrastructure, taking its Series A to $48 million and valuing the London-based company at $200 million post-money.

Summary

• Velocity raised $10 million more, bringing its Series A financing to $48 million in total.
• Visa Ventures, Circle Ventures, Ripple, Haun, Translink and Mirana joined the Series A extension round.
• CEO Eric Queathem said the new investment values London-based Velocity at $200 million post-money today.
• Velocity builds stablecoin infrastructure for settlement, liquidity and treasury operations without replacing existing business systems.
• Velocity's July Series A raised $38 million before the latest $10 million financing extension closed.

Velocity said in its Sept. 15 announcement that Visa Ventures, Circle Ventures, Ripple, Haun Ventures, Translink Capital and Mirana Ventures participated in the extension. The financing follows a $38 million Series A disclosed on July 14.

CEO Eric Queathem said the additional financing valued the company at $200 million after the investment. The original Series A had been oversubscribed, according to his comments accompanying the funding disclosure.

Velocity Series A grows from $38M to $48M

The original $38 million round was led by Dragonfly and FirstMark, with Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple participating. Velocity said in July that the financing took its total capital raised since May 2025 to nearly $50 million at that stage.

The latest extension adds $10 million to that Series A. Ripple participated in both financing announcements, while Visa Ventures, Circle Ventures, Haun Ventures, Translink Capital and Mirana Ventures joined the extension disclosed Tuesday.

Velocity plans to use the capital to develop infrastructure for issuers, acquirers, payment companies, banks and merchants. Its system connects stablecoins with banking rails, custody, liquidity, compliance and settlement tools while allowing customers to continue using their existing finance operations.

Queathem said the company has focused on how money moves behind consumer payments. Velocity's stated strategy is to place stablecoin settlement underneath existing payment and treasury systems instead of requiring companies to operate a separate crypto stack.

Visa investment follows stablecoin settlement work

Visa's investment comes as the card network builds more stablecoin capabilities into its payment infrastructure. In Velocity's funding announcement, Rubail Birwadker, Visa's global head of growth products and strategic partnerships, said stablecoins were playing an increasingly important role in the Visa ecosystem and described Velocity as infrastructure for "stablecoin-powered money movement to every business."

The investment follows operational work between the two companies. On Sept. 9, MVB Financial and Velocity announced participation in a Visa Direct pilot that lets eligible participants use stablecoins for certain push-to-card funding and settlement obligations. Digital-asset conversion, wallet connectivity and on-chain controls are handled through licensed partners.

Velocity said the MVB arrangement uses a single API and regulated wallet infrastructure. Stablecoins can be brought into payment flows without customers maintaining separate blockchain systems, while availability depends on eligibility and geography.

Visa itself reported this month that more than 160 stablecoin-linked card programs were live globally during its fiscal second quarter. Payment volume across those programs had risen nearly 200% year over year, while stablecoin settlement volume had passed a $20 billion annualized rate.

Velocity targets settlement, liquidity and treasury operations

Founded in 2025, Velocity works with merchants, payment providers, fintech companies and financial institutions that want to use stablecoins for money movement without rebuilding their existing treasury systems. Its platform combines stablecoin rails with local banks, custody providers, liquidity management and compliance services.

The company says the infrastructure can reduce reliance on prefunded accounts and extend settlement beyond standard banking hours. Its website lists payments, settlement, treasury automation, regulated wallets, FX connectivity and liquidity services among its current products.

Queathem previously worked at Worldpay, where his experience centered on large payment networks and settlement systems. His thesis for Velocity is that stablecoins will increasingly operate behind existing payment products instead of requiring businesses or consumers to change the interface they use.

His forecast remains a company view rather than a confirmed market outcome. Queathem said he believes "in five years every global business is going to hold value onchain," with treasury reconciliation and liquidity infrastructure becoming more important as corporate use develops.

Stablecoin payment infrastructure has drawn several large financings during 2026. In March, as crypto.news reported in its Tazapay funding coverage, Tazapay took its Series B funding to $36 million with backing from Circle Ventures, Coinbase Ventures and Ripple.

A separate Checker funding round brought $8 million to an infrastructure provider building a single API for banks and fintech firms. Checker said it had processed more than $3 billion in transactions during the previous 12 months.

Visa had invested in another stablecoin infrastructure provider before joining Velocity. As crypto.news reported in its Visa-backed BVNK coverage, Visa Ventures took a strategic stake in BVNK in 2025 after the company's $50 million Series B.

Mastercard later completed its acquisition of BVNK in August 2026 in a deal worth up to $1.8 billion, according to related BVNK acquisition coverage. BVNK provides fiat-to-blockchain infrastructure for payments, payouts, settlement and treasury activity.

London-based Velocity faces a developing UK stablecoin regime

Velocity is headquartered in London, where regulators finalized new rules for qualifying stablecoins and crypto custody on June 30. The framework will apply to firms authorized under the new regime from Oct. 25, 2027, while the application gateway opens Sept. 30, 2026. Velocity says its platform connects customers with licensed banks, FX providers and digital-asset partners. Its public materials do not claim that every regulated function is carried out directly by Velocity itself, and its MVB announcement states that digital-asset conversion and related controls are performed by licensed partners.

Circle Ventures' participation comes as Circle expands payment infrastructure tied to USDC. Circle reported $74.1 billion of USDC in circulation as of Sept. 10, while the company said the asset was available through more than 1,000 banks, blockchains, distributors and other partners.

Velocity said the $48 million Series A will support continued platform expansion and work with issuers, acquirers, merchants, payment providers and financial institutions. No separate timetable for deploying the new $10 million extension was disclosed in the Sept. 15 announcement.

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