Ripple Invests in Velocity's Stablecoin Infrastructure Expansion
Velocity has secured an additional $10 million funding round, bringing its Series A total to $48 million at a post-money valuation of $200 million. The investment includes participation from Ripple, Visa Ventures, and Circle Ventures among others. This capital will be used to develop infrastructure that connects stablecoins with existing payment networks, settlement systems, and corporate treasury operations. Velocity's platform enables banks and payment companies to use stablecoins for settlement without overhauling their current systems. The company is focusing on the back-end layer of payments rather than consumer-facing wallets. With stablecoin circulation exceeding $300 billion, Velocity aims to capitalize on growing demand in cross-border transfers and corporate treasury operations. Ripple's involvement aligns with its strategy of integrating RLUSD into institutional credit and treasury products. The funding reflects a broader industry shift toward leveraging blockchain-based assets for settlement infrastructure rather than consumer-facing applications.
Tickers: $XRP
Topics: payment infrastructure Ripple Series A funding stablecoins Velocity