TechFlow reports, July 14, according to Fortune magazine, stablecoin payment infrastructure startup Velocity announced the completion of a $38 million Series A funding round, led by Dragonfly, with participation from Coinbase, Capital One Ventures, and Wintermute. The company is committed to providing stablecoin payment and cross-border settlement infrastructure for merchants, payment service providers, fintech companies, and financial institutions.
Velocity stated that it will use the new funds to expand into the Africa and Latin America markets, obtain relevant licenses, and strengthen asset custody security, while developing yield-generating stablecoin products. Against the backdrop of stablecoins accelerating their penetration into mainstream finance, the company hopes to drive more enterprises to adopt on-chain payment solutions.
