Stablecoin payment enterprise Velocity secured an additional $10 million from backers such as Visa Ventures, Circle Ventures, Haun Ventures, and Ripple, expanding its Series A funding round to a total of $48 million.
This latest transaction valued Velocity at $200 million as the business develops network architecture to transition payment settlement and treasury administration onto stablecoin rails.
Chief Executive Officer Eric Queathem mentioned that his tenure at Worldpay taught him that while consumer transaction experiences have evolved, the underlying machinery—including settlement, reconciliation, and international money movement—remains clunky.
Stablecoin payment venture Velocity has brought in another $10 million from backers including Visa (V), Circle (CRCL), and Ripple, broadening its Series A funding to hit $48 million as major financial institutions venture deeper into blockchain-driven transaction systems.
Haun Ventures, Translink Capital, and Mirana Ventures additionally joined this extension, which follows an initial $38 million Series A announced back in July.
The fresh injection of capital assessed the London-headquartered enterprise at $200 million on a post-money basis, CEO Eric Queathem shared with CoinDesk during an interview. He noted that the initial Series A funding round experienced oversubscription.
This financial support arrives as stablecoins, which are cryptocurrencies pegged to fiat currencies, take on an increasingly prominent role in worldwide capital transfers. Once primarily employed by digital asset traders to move greenbacks across exchanges, stablecoins have expanded past $300 billion in circulating supply and see growing utilization in commercial payments, cross-border remittances, and enterprise treasury workflows.
Velocity is targeting the underlying architecture supporting these financial exchanges. Their system is engineered to allow payment providers and banking institutions to leverage stablecoins for clearing, liquidity management, and treasury duties without requiring them to discard their current legacy infrastructure.
Payments plumbing
Queathem previously worked at Worldpay, an organization that clears upward of $2 trillion in yearly payment transactions. That background helped shape the foundational concept for Velocity. Although client-facing checkout experiences have advanced significantly, much of the mechanics transferring funds among issuers, card networks, acquirers, and merchants stays cumbersome.
“All this capital has flowed into payments over the last 15 years, and it’s been 100% focused on how do you create a better experience on the front end for consumers,” Queathem stated.
“But no one has fixed the back-end layer.”
The investment from Visa holds special significance because Velocity does not view stablecoins as substitutes for plastic cards. The enterprise anticipates that blockchain-based digital currency will operate underneath existing payment interactions, managing a greater share of the funding and settlement occurring behind the scenes.
“Stablecoins are playing an increasingly important role in reshaping how value moves across the Visa ecosystem,” remarked Rubail Birwadker, Visa’s global head of growth products and strategic partnerships, via an official statement. He added that Velocity is constructing infrastructure designed to bring “stablecoin-powered money movement to every business.”
Velocity Chief Growth Officer Matt Larson anticipates that a significant portion of this transition will remain unseen by everyday shoppers.
“It probably doesn’t lead to all of us switching to have stablecoin wallets as users,” Larson remarked to CoinDesk. Instead, he explained, “all of the funding, all of the settlement” circulating throughout card networks could increasingly gravitate toward stablecoins.
Queathem forecasts that multinational corporations will eventually maintain a portion of their liquidity onchain, generating demand for reconciliation, treasury administration, and alternative infrastructure linking blockchain-native assets with traditional financial networks.
Originally published at https://www.coindesk.com/business/2026/09/10/velocity-extends-series-a-to-usd48m-at-usd200m-valuation-with-backing-from-visa-circle-and-ripple.
