Stablecoin payments startup Velocity completes $38 million Series A funding round, led by Dragonfly

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Deep Tide TechFlow news. On July 14, according to Fortune magazine, stablecoin payment infrastructure startup Velocity announced the completion of a $38 million Series A funding round, led by Dragonfly, with participation from Coinbase, Capital One Ventures, and Wintermute. The company aims to provide stablecoin payment and cross-border settlement infrastructure for merchants, payment service providers, fintech companies, and financial institutions.

Velocity said it will use the new funds to expand into Africa and Latin America, obtain the relevant licenses, and strengthen asset custody security, while also developing yield-generating stablecoin products. Against the backdrop of stablecoins accelerating their penetration into mainstream finance, the company hopes to drive more enterprises to adopt on-chain payment solutions.

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