Velocity Scores Additional $10M, Valuing Firm at $200M with Visa, Circle, Ripple Backing
London-based Velocity has secured an additional $10 million in its Series A extension, bringing the total round to $48 million after a group of traditional finance and crypto investors joined. The new capital values the firm at $200 million. This investment follows a previous close of $38 million Series A in July, led by Dragonfly and FirstMark, with Ripple already participating.
Velocity's CEO Eric Queathem has said that the company is building backend systems to enable banks, payment processors, card issuers, acquirers, and merchants to use stablecoins for settlement, liquidity management, and treasury work without discarding existing software and banking connections. The firm argues that consumer-facing payments have improved faster than the underlying infrastructure.
Visa's involvement is notable as it already sits at the center of global payments, with Rubail Birwadkar, Visa's global head of growth products and strategic partnerships, saying that stablecoins are becoming more important to how value moves across Visa's ecosystem. The investment follows a recent pilot involving Velocity and MVB Financial testing stablecoin-enabled funding and settlement for certain payouts.
The participation of Circle Ventures and Ripple adds two prominent names in regulated digital dollars and institutional crypto payments. Their joint appearance signals that large incumbents now treat stablecoin rails as complementary infrastructure rather than a fringe experiment. The combined $48 million will go toward expanding the platform and working more deeply with issuers, acquirers, merchants, and financial institutions.