Velocity has raised another US$10 million to expand its stablecoin payments and treasury platform.

Visa Ventures, Circle Ventures, Ripple, Haun Ventures, Translink Capital and Mirana Ventures participated in the Series A extension.

The investment follows a US$38 million Series A announced last month and brings the round’s total to US$48 million.

Velocity provides stablecoin infrastructure for issuers, acquirers, payment providers, financial institutions and merchants.

Its platform supports settlement, liquidity and treasury operations without requiring businesses to replace their existing systems.

The company aims to reduce reliance on prefunding and enable settlement beyond traditional banking hours.

“We are excited to welcome several new investors to Velocity, including Visa through Visa Ventures. From day one, we have focused on improving how money moves through the payments ecosystem.

These investors operate at the center of that ecosystem and will provide invaluable insight as we use stablecoins to transform the experience.”

said Eric Queathem, Founder and CEO of Velocity.

Circle and Ripple bring experience in regulated stablecoins and their use in payments and institutional finance.

Translink Capital will also connect Velocity with its network of corporate and institutional partners across Asia.

Featured image: Edited by Fintech News Switzerland, based on image by peoplecreations via Magnific