Velocity Raises $38m Series A for Stablecoin Treasury Platform
Velocity has successfully secured $38 million in a Series A funding round to develop its stablecoin treasury platform. The investment was led by Dragonfly and FirstMark, with notable participants including Capital One Ventures, which made its inaugural investment in stablecoins, along with Coinbase Ventures, QED, and Ripple.
This funding marks a significant step for Velocity as it aims to capitalize on the growing adoption of stablecoins in financial markets. The backing from such high-profile investors highlights the potential they see in Velocity’s technology and vision, particularly in optimizing treasury operations using stablecoin solutions.
Key takeaways
- ▸Velocity has raised $38 million in Series A funding.
- ▸Dragonfly and FirstMark led the investment round.
- ▸Capital One Ventures made its first investment in stablecoins through this round.
- ▸Other investors include Coinbase Ventures, QED, and Ripple.
- ▸The funding will support the development of Velocity's stablecoin treasury platform.
Why this matters
This funding round could position Velocity as a key player in the stablecoin market, especially as more businesses explore the use of stablecoins for treasury management. The strategic backing from established fintech and venture capital firms suggests a strong belief in the platform's potential, which could influence how companies integrate digital currencies into their financial operations.
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