Stablecoin treasury platform Velocity raises $38M Series A led by Dragonfly and FirstMark
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Velocity, a London-based stablecoin treasury and settlement platform, has raised a $38 million Series A round led by Dragonfly and FirstMark, according to a company announcement. Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures and Ripple also participated.
The round brings Velocity’s total capital raised to nearly $50 million since May 2025. The company did not disclose the valuation for the Series A.
Founded in 2025, Velocity provides infrastructure that lets enterprises, payment providers, fintechs and financial institutions hold, move and settle funds using stablecoins while interfacing with local banking rails. The platform bundles compliance, custody, liquidity management and settlement orchestration so treasury teams can adopt stablecoins without overhauling existing workflows.
Velocity is pitching its stack as a way for CFOs and treasury teams to modernize cross-border treasury operations, reduce settlement times, cut prefunding requirements and improve liquidity management. The company says customers are using stablecoin-powered systems to reduce trapped working capital, streamline global operations and access near-instant settlement in multiple markets.
“From day one, we have focused on the needs of CFOs and treasury teams, rather than focusing only on those who are crypto native,” said Eric Queathem, founder and CEO of Velocity. “Stablecoins are moving beyond payments and becoming core infrastructure for how businesses manage and move money globally.”
Dragonfly general partner Rob Hadick said the firm backed Velocity for its ability to connect traditional payments and banking infrastructure with stablecoin networks. FirstMark partner Adam Nelson framed stablecoins as a structural shift in how money moves, analogous to the internet’s impact on information flows.
Velocity plans to use the new capital to expand its global banking and payments network, accelerate product development, deepen regulatory capabilities and support growing demand from enterprises and financial institutions adopting stablecoin-based treasury and settlement infrastructure.
