VelaFi raises $20M in Series B funding round

VelaFi, a stablecoin infrastructure provider under the Latin America-based crypto firm Galactic Holdings, has raised $20 million in a Series B funding round led by XVC and Ikuyo, CoinDesk reported. Other global investors in the round included Alibaba, Planetree, and BAI Capital. The funds are slated for acquiring licenses in the U.S. and Asia and for bank-related business initiatives.