Circle, Ripple and Visa join $10 funding round for stablecoin platform Velocity
UK stablecoin startup Velocity has secured $10 million in an extension of its Series A funding round. Investors in this round include major players like Visa Ventures, Circle Ventures, Ripple, along with Haun Ventures, Translink Capital, and Mirana Ventures.
This investment underscores the growing interest and confidence in the stablecoin market, particularly in innovative platforms like Velocity. With backing from well-known financial entities, Velocity is poised to enhance its offerings and market position in the burgeoning digital currency landscape.
Key takeaways
- ▸Velocity has raised $10 million in a funding extension.
- ▸Investors include Visa Ventures, Circle Ventures, and Ripple.
- ▸This funding round reflects increasing confidence in the stablecoin market.
- ▸The investment positions Velocity to potentially enhance its product offerings.
Why this matters
This funding round demonstrates a strong endorsement of Velocity’s business model and future potential in the competitive stablecoin space. With backing from established firms like Visa and Circle, Velocity may gain significant market traction, which could disrupt existing players in the digital currency and payment ecosystems. The involvement of multiple high-profile investors also highlights a trend of major financial institutions deepening their engagement with blockchain and stablecoin technology, signaling broader acceptance and innovation in the financial landscape.