Velocity, a London-based startup that builds stablecoin infrastructure for banks and payment firms, has raised another US$10 million from investors including Visa, Circle, and Ripple, extending its series A round to US$48 million.

Haun Ventures, Translink Capital, and Mirana Ventures also joined the extension.

It followed a US$38 million series A announced in July. CEO Eric Queathem said the new funding values Velocity at US$200 million post-money.

Velocity said its platform helps banks and payment companies use stablecoins for settlement, liquidity, and treasury operations without replacing existing systems.

The company has also partnered with Prove on identity and trust infrastructure.

The funding comes as UK regulators have outlined an approach to regulating systemic stablecoin issuers used in payments.

Visa has also launched stablecoin settlement in the US as part of efforts to integrate the assets into existing payment rails.

🔗 Source: CoinDesk

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