Ripple Joins Forces with Stablecoin Startup Velocity in $10M Funding Round

Ripple has backed stablecoin-focused payments platform Velocity in a $10 million funding round.

The total funding for Velocity has now reached an impressive $48 million, giving the company a valuation of $200 million.

Ripple was already an investor in Velocity before this latest expansion, which also included other notable investors such as Activant Capital and Coinbase Ventures.

Velocity aims to increase payment settlement efficiency by connecting traditional financial infrastructure with stablecoin rails.