Velocity Secures $14 Million Investment from Visa, Ripple, Circle, and Others

Velocity, a stablecoin payment and fund management platform, announced on the 17th that it has raised an additional $10 million in a Series A extension round with participation from Visa Ventures, Circle Ventures, Ripple, Haun Ventures, Translink Capital, and Mirana Ventures. This funding follows Velocity's previous Series A round of $38 million in August and aims to support Velocity's business of providing stablecoin infrastructure to issuers, acquirers, payment providers, financial institutions, and merchants worldwide. Velocity is building infrastructure that allows institutions and businesses to use stablecoins for settlement, liquidity, and fund management operations without replacing their existing systems. The platform is designed to facilitate the movement of funds behind payments, reduce reliance on pre-funding, and extend settlement times beyond traditional banking hours. With $48 million secured in Series A funding, Velocity plans to expand its platform and strengthen its position in the global payment and fund management ecosystem. Eric Quiden, CEO of Velocity, expressed his excitement about welcoming several new investors, stating that they will provide valuable insights into innovating payment experiences using stablecoins.

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