Woofun AI reports that stablecoin payment infrastructure startup Velocity has closed a $38 million Series A funding round. Dragonfly led the investment, with participation from Coinbase, Capital One Ventures, Wintermute, and other institutional investors.

Founded in 2025, Velocity provides stablecoin payment solutions for enterprises, fintechs, and financial institutions to optimize cross-border payments and treasury management. The company currently operates in the US, parts of Europe, and Australia. CEO Eric Queathem did not disclose the latest valuation. Velocity intends to use the capital to pursue regulatory licenses, expand into Africa and Latin America, enhance asset custody security, and develop stablecoin yield products.