Velocity raises $38 million in Series A funding, led by Dragonfly

Stable coin payment infrastructure startup Velocity has raised $38 million in Series A funding, led by Dragonfly, with participation from Coinbase, Capital One Ventures, and Wintermute. Velocity was founded in 2025 to provide stablecoin payment solutions for enterprises, payment service providers, fintech companies, and financial institutions. Velocity currently covers parts of the United States, Europe, and the Australian market. It plans to use new funds to apply for licenses, expand its business in Africa and Latin America, build asset custody infrastructure, and develop stablecoin revenue products.