Velocity Raises $38M to Build Enterprise Stablecoin Treasury Tools
Velocity secured $38M from Dragonfly, FirstMark, and Coinbase Ventures to help businesses integrate stablecoins into treasury and payment workflows.
A startup called Velocity has closed a $38 million funding round to accelerate the development of infrastructure that allows enterprises to incorporate stablecoins into their core financial operations, including treasury management and payment processing. The round drew backing from prominent crypto-native and crossover investors — Dragonfly, FirstMark, and Coinbase Ventures — signaling that institutional appetite for stablecoin-adjacent tooling remains robust even as broader crypto markets have cycled through volatility.
The raise reflects a broader structural shift in how corporations are beginning to think about digital assets. Rather than treating stablecoins as speculative instruments, an increasing number of finance teams are exploring them as operational rails — vehicles for faster cross-border payments, reduced settlement friction, and more dynamic cash management. Velocity's pitch is essentially that the plumbing to do this safely and at scale does not yet exist for most enterprises, and the company intends to build it.
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The involvement of Coinbase Ventures is particularly telling. Coinbase has positioned itself aggressively as a gateway for institutional and corporate crypto adoption, and its venture arm tends to back companies that extend that ecosystem rather than compete with it. Dragonfly, one of the more analytically rigorous crypto-focused funds, adds credibility to the technical thesis underlying Velocity's approach. FirstMark, known for early bets on data infrastructure companies, rounds out a syndicate that blends crypto expertise with enterprise software sensibility.
For corporate treasurers, the appeal of stablecoin infrastructure lies in efficiency gains that traditional banking rails struggle to offer — particularly for multinationals dealing with slow correspondent banking networks or fragmented currency exposures. If Velocity can deliver compliance-grade, auditable tooling that integrates cleanly with existing ERP systems, it could address a genuine pain point that legacy fintech has not fully solved. The $38 million will go toward expanding that software capability and, presumably, building the sales and compliance functions necessary to win over risk-averse enterprise clients.
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