Visa, Circle, Ripple Back Velocity as Enterprise Value Hits $200M

Velocity, a UK-based stablecoin payment and finance platform, has secured an additional $10 million in Series A funding, raising its total Series A proceeds to $48 million and valuing the company at $200 million.

According to CoinPost on June 16 (local time), Velocity announced it had raised additional investment from Visa Ventures, Circle Ventures, Ripple, Houn Ventures, Translink Capital, and Mirana Ventures. Earlier in July, Velocity had disclosed a $38 million Series A round led by Dragonfly and FirstMark.

Velocity provides infrastructure allowing businesses and financial institutions to utilize stablecoins for payments, liquidity management, and finance operations without fully replacing existing systems. The platform aims to reduce reliance on pre-funded balances and enable transactions outside traditional banking hours. This funding will be used to expand its infrastructure globally for issuers, merchant acquirers, payment processors, financial institutions, and retailers.

Notably, major players from both traditional finance and the crypto industry have participated as investors simultaneously. Visa joined through Visa Ventures, while Ripple continued its involvement with additional investment following its initial Series A participation. Velocity expects Circle and Ripple's participation to strengthen connections in regulated stablecoin and institutional payment sectors, with Translink Capital anticipating support for expanding Asian partnerships.

Velocity CEO Eric Queathem stated that investors being key players in the payment ecosystem would provide important insights into improving stablecoin-based payment experiences. Visa also commented that stablecoins are increasingly reshaping how value moves within its ecosystem.

This investment highlights the growing trend of stablecoins expanding beyond crypto trading to become infrastructure for corporate payments, settlements, and treasury management. Velocity focuses on foundational technology processing funding and settlement behind existing card and bank payment networks. As competition intensifies between traditional payment systems and blockchain solutions, the infrastructure market is expected to see heightened rivalry.