Stablecoin Payment Startup Velocity Raises $10 Million in Series A Extension at $200 Million Valuation

Stablecoin payment startup Velocity has raised $10 million in a Series A extension round, bringing its total Series A funding to $48 million and its valuation to $200 million. The round saw participation from Visa Ventures, Circle Ventures, Haun Ventures, Ripple, Translink Capital, and Mirana Ventures. Based in London, Velocity provides infrastructure for banks and payment companies to utilize stablecoins for settlement and liquidity management without replacing legacy systems. CEO Eric Queathem stated that the company aims to integrate blockchain assets into existing payment frameworks rather than replacing traditional cards.