Velocity Lands $10M from Visa, Circle, and Ripple for Stablecoin Infrastructure

Payments startup Velocity has secured an additional $10 million in funding from investors including Visa, Circle, and Ripple. This brings the company's total Series A funding to $48 million. Velocity is building infrastructure that allows banks and payment companies to use stablecoins for settlement, liquidity management, and corporate treasury operations.

The new funding valued the London-based company at $200 million post-money. According to CEO Eric Queathem, the original Series A round attracted stronger investor demand than expected.

Queathem believes that stablecoins will not replace bank cards but could gradually move into the background infrastructure that handles the flow of money between banks, payment networks, and businesses. He also predicts that within five years, almost every global company will hold at least part of its capital onchain.