
Velocity has successfully raised an additional $10 million to expand its stablecoin payments and treasury infrastructure, bringing its Series A financing to $48 million in total. According to the company's September 15 announcement, the extension was backed by Visa Ventures, Circle Ventures, Ripple, Haun Ventures, Translink Capital and Mirana Ventures. CEO Eric Queathem confirmed that the new investment values the London-based company at $200 million post-money today. The original Series A round, disclosed on July 14, had raised $38 million before the latest extension closed, with the original round being oversubscribed according to Queathem's recent interview with CoinDesk.
The latest extension included participation from several major financial technology companies. Visa Ventures joined the round as part of Visa's broader strategy to build stablecoin capabilities into its payment infrastructure. As reported by Velocity, Rubail Birwadker, Visa's global head of growth products and strategic partnerships, described stablecoins as playing an increasingly important role in the Visa ecosystem. Circle Ventures participation aligns with Circle's expansion of payment infrastructure tied to USDC, with the company reporting $74.1 billion of USDC in circulation as of September 10. Ripple participated in both financing announcements, demonstrating continued support for stablecoin infrastructure development, with the company's participation fitting a broader pattern of pushing RLUSD and related infrastructure into institutional credit and treasury products rather than retail-facing crypto rails.
Velocity's platform combines stablecoin rails with local banks, custody providers, liquidity management and compliance services. According to the company's announcement, the infrastructure can reduce reliance on prefunded accounts and extend settlement beyond standard banking hours. The platform connects stablecoins with banking rails, custody, liquidity, compliance and settlement tools while allowing customers to continue using their existing finance operations. Founded in 2025, the company works with merchants, payment providers, fintech companies and financial institutions that want to use stablecoins for money movement without rebuilding their existing treasury systems. CEO Eric Queathem previously worked at Worldpay, which settles more than $2 trillion in annual payments volume, helping shape Velocity's approach to addressing the cumbersome back-end infrastructure that remains despite consumer-facing payment improvements.
Visa's investment follows operational work between the companies, with MVB Financial and Velocity announcing participation in a Visa Direct pilot on September 9. As reported by Velocity, the arrangement uses a single API and regulated wallet infrastructure, allowing stablecoins to be brought into payment flows without customers maintaining separate blockchain systems. Visa itself reported that more than 160 stablecoin-linked card programs were live globally during its fiscal second quarter, with payment volume across those programs rising nearly 200% year over year and stablecoin settlement volume passing a $20 billion annualized rate. The stablecoin market has grown beyond $300 billion in circulation, expanding beyond its traditional use by crypto traders to include payments, cross-border transfers and corporate treasury operations. Velocity's platform specifically targets the layer connecting issuers, card networks, acquirers, and merchants, not the wallet consumers see, with the company positioning itself in the back-end infrastructure that hasn't been modernized despite consumer-facing payment improvements.
Velocity is headquartered in London, where regulators finalized new rules for qualifying stablecoins and crypto custody on June 30. The framework will apply to firms authorized under the new regime from October 25, 2027, while the application gateway opens September 30, 2026. CEO Eric Queathem previously worked at Worldpay and believes that stablecoins will increasingly operate behind existing payment products rather than requiring businesses to change interfaces. His forecast suggests that every global business will hold value onchain within five years, with treasury reconciliation and liquidity infrastructure becoming more important as corporate use develops. Velocity Chief Growth Officer Matt Larson expects much of this shift to be invisible to consumers, with funding and settlement moving toward stablecoins while consumers continue using familiar payment experiences. The investor list includes strategic corporate money from a card network and a stablecoin issuer directly, with the funding specifically targeting treasury and settlement infrastructure rather than retail wallets, representing a deliberate focus on the back-end layer that hasn't been modernized despite consumer-facing payment improvements.