London-based payments startup Velocity has expanded its Series A funding round to $48 million following a fresh $10 million capital injection from high-profile industry investors. The latest extension features backing from Visa Ventures, Circle Ventures, Ripple, Haun Ventures, Translink Capital, and Mirana Ventures. CEO Eric Queathem confirmed that the post-money valuation for the company now stands at $200 million, building upon an initial $38 million raise announced in July, CoinDesk reported.
The influx of capital highlights a growing push by traditional financial heavyweights into blockchain-based settlement technology. With stablecoins scaling past $300 billion in total circulation, these digital assets are rapidly expanding beyond speculative crypto trading into mainstream cross-border transfers, commercial payments, and corporate treasury management. Velocity aims to provide the underlying back-end technology that allows traditional banks and payment processors to utilize stablecoins for liquidity and settlement without replacing their existing legacy architecture.
Founded by former Worldpay executive Eric Queathem, Velocity was created to address long-standing back-end inefficiencies in the global financial system. While user interfaces and consumer-facing checkout experiences have advanced significantly over the past decade, the underlying mechanics moving funds between card networks, issuing institutions, and merchants remain heavily fragmented. Velocity’s platform acts as an invisible bridge, enabling conventional card transactions to settle via stablecoins behind the scenes without requiring consumers to alter their everyday spending habits.
Industry leaders view the infrastructure firm as an essential component for the future of digital money movement. Visa’s involvement underscores a strategic push to integrate stablecoin networks into conventional credit and debit operations, enhancing global liquidity and speed. As global corporations increasingly transition portions of their capital reserves onto the blockchain, Velocity plans to leverage its expanded balance sheet to scale its treasury management and reconciliation tools for institutional clients worldwide.
