Circle, Ripple and Visa join $10 million funding round for stablecoin platform Velocity

Velocity, a stablecoin payments and treasury platform, has secured $10 million in new funding to expand its infrastructure for stablecoin issuers, acquirers, payment providers, financial institutions, and merchants. The financing round, which extends the company's Series A, brings in $38 million in total and is led by investors Circle Ventures, Ripple, and Visa Ventures.

Velocit's global head of growth products and strategic partnerships, Rubail Birwadker, highlighted the growing importance of stablecoins in shaping value movement across Visa's ecosystem.

Velocity's platform enables institutions and businesses to utilize stablecoins for settlement, liquidity, and treasury operations without disrupting their existing systems. This continuous money movement reduces dependence on prefunding and extends settlement beyond traditional banking hours. The backing of Circle Ventures and Ripple signifies Velocity's association with prominent companies promoting regulated stablecoins and their integration into payments, liquidity, and institutional finance.

The infusion of capital comes at a time when stablecoins are maturing, as PYMNTS noted last week. The industry is transitioning from questioning whether blockchain can move money faster or cheaper to exploring financial products enabled by continuous money, settlement, and transaction data on programmable infrastructure. Velocity's new funding is seen as a positive development, as it helps drive end users to treat stablecoins as an always-on layer for moving liquidity, extending credit, and settling financial obligations.