Circle, Ripple and Visa join $10 funding round for stablecoin platform Velocity
UK stablecoin startup Velocity has raised $10 million in an extension of its Series A round, with investment from Visa Ventures, Circle Ventures, Ripple, Haun Ventures, Translink Capital and Mirana Ventures.
Velocity, a UK stablecoin startup, has raised $10 million in an extension of its Series A funding round. The investment comes from several major players, including Visa Ventures, Circle Ventures, Ripple, Haun Ventures, Translink Capital, and Mirana Ventures.
The funding will support Velocity's work in providing stablecoin infrastructure to various financial institutions and businesses. According to Visa's global head of growth products and strategic partnerships, Rubail Birwadker, stablecoins are playing a crucial role in reshaping the way value moves across the Visa ecosystem.
Velocity's platform allows institutions and businesses to use stablecoins for settlement, liquidity, and treasury operations without replacing their existing systems. The company aims to make money movement more continuous and reduce dependence on prefunding, while extending settlement beyond traditional banking hours.
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