Stablecoin treasury and setttlement platform Velocity raises $38 million

Velocity, a key player in the stablecoin ecosystem, has secured $38 million in a Series A funding round, highlighting the growing interest in blockchain solutions for financial institutions. Backed by prominent investors like Dragonfly and FirstMark, this funding will likely accelerate Velocity's mission to bring more enterprises into the on-chain world through efficient treasury and settlement services. This influx of capital underscores the increasing adoption of blockchain technology in traditional finance, suggesting a major shift towards more decentralized financial systems.