Stablecoin startup Velocity secures $38M investment

London-based startup Velocity has raised $38 million in a Series A funding round, Fortune reported. The round was led by Dragonfly, with participation from Coinbase, Capital One Ventures, and Wintermute. Velocity focuses on providing stablecoin payment solutions to corporations, payment service providers, fintech companies, and financial institutions, helping them optimize cross-border payments, fund settlements, and treasury management processes using dollar-pegged tokens.