infrastructure
Velocity Secures $38M to Develop Stablecoin Treasury Infrastructure for Enterprises
Velocity has raised $38 million in a funding round backed by prominent investors to expand its software platform that helps businesses integrate stablecoins into their treasury and payment workflows.
AS1 NewsSource: cointelegraph.com
Velocity, a startup focused on stablecoin treasury infrastructure, has announced it has raised $38 million in a funding round led by notable investors including Dragonfly, FirstMark, and Coinbase Ventures. The company aims to expand its software offerings that enable enterprises to incorporate stablecoins into their treasury management and payment processes.
The new funding will support Velocity's efforts to develop tools that streamline the integration of stablecoins into corporate finance operations, potentially increasing the adoption of digital assets in enterprise contexts.
This move comes amid growing interest from institutional players in utilizing stablecoins for efficient cross-border payments and liquidity management, highlighting a broader trend towards crypto infrastructure development for business use.
The funding round underscores investor confidence in Velocity's approach to building scalable solutions for enterprise stablecoin adoption, which could influence the broader crypto ecosystem by facilitating more widespread use of stablecoins in corporate finance.
While the direct impact on specific tokens or protocols is not detailed, the initiative may contribute to increased stability and utility of stablecoins within the crypto infrastructure landscape.
The funding supports the development of enterprise-focused stablecoin infrastructure, potentially boosting stablecoin adoption in corporate treasury management.