TechFlow news, January 12 — According to CoinDesk, VelaFi, a stablecoin payment infrastructure provider, has completed a $20 million Series B funding round led by XVC and Ikuyo. The round also included global investors such as Alibaba Investment, Planetree, and BAI Capital, bringing the company's total funding to over $40 million.
Founded in 2020, VelaFi initially built its payment infrastructure in Latin America and has since expanded into the United States and Asia. The platform connects local banking systems, cross-border payment networks, and major stablecoin protocols, enabling businesses to transfer funds across markets faster and at lower costs than traditional systems. Maggie Wu, CEO and co-founder of the company, said the new funding will accelerate its global expansion from Latin America into the U.S. and Asia.
