Dragonfly, FirstMark lead $38 million Series A for stablecoin startup Velocity with support from Coinbase, Ripple and more

Investors like Dragonfly and FirstMark have teamed up to lead a $38 million Series A funding round for Velocity, a startup aiming to make stablecoins more accessible for corporate users by integrating them with traditional banking systems. With additional support from Coinbase, Ripple, and others, this funding aims to boost Velocity's efforts to bridge the gap between crypto and traditional finance. This move is significant as it underscores growing institutional confidence in stablecoins and their potential role in the evolving financial landscape.