Summary
Velocity is a London-based stablecoin treasury and settlement platform founded in 2025 by Eric Queathem (former WorldPay executive). The company raised $38M in Series A funding (totaling ~$50M since founding) from a blue-chip syndicate spanning crypto-native (Dragonfly, Coinbase Ventures, Wintermute Ventures, Ripple) and traditional finance (FirstMark, Capital One Ventures, QED Investors). Velocity helps enterprises use stablecoins for treasury operations without changing their core financial workflows.
Key Points
- Founded: 2025 by Eric Queathem (9 years at WorldPay, led crypto/global payouts division)
- Series A: $38M led by Dragonfly and FirstMark
- Full syndicate: Dragonfly, FirstMark, Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures, Ripple
- Total raised: ~$50M since May 2025
- Platform: Combines stablecoin infrastructure + local banking rails + compliance + custody + liquidity management + settlement orchestration
- Target customers: Global merchants, payment providers, fintechs, financial institutions
- Current markets: US, Europe, Australia
- Expansion plans: Africa and Latin America (new licenses)
- Product roadmap: Yield-generating stablecoin products, secure custody infrastructure
- Competitors: Traditional banks and FX houses (not other payments startups)
- Key insight from Dragonfly: "Stablecoin adoption will be driven by global enterprises and financial institutions"
- Key insight from FirstMark: "Stablecoins have potential to transform movement of money as profoundly as internet transformed information"