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

What happened

Dragonfly and FirstMark led a $38 million Series A financing round for stablecoin startup Velocity, with additional backing from Coinbase, Ripple and other investors, and the company says it will let corporate users transact with stablecoins while linking to traditional banking and compliance systems.

Confirmed

Global impact / market context

The funding gives Velocity resources to build infrastructure that bridges digital stablecoins and existing banking networks, which could make stablecoins more usable for businesses, potentially expanding demand for stablecoin services and related crypto‑related revenue streams.

Analyst inference

Stablecoins are increasingly seen as a bridge between crypto and traditional finance, and recent regulatory focus on compliance is prompting firms to seek solutions that integrate stablecoins with banking rails, creating a growing market for compliant stablecoin platforms.

Analyst inference

What to watch

1. Velocity’s progress in integrating with major banking APIs will indicate how quickly corporate users can adopt stablecoins for everyday payments and treasury management. Analyst inference
2. Regulatory developments around stablecoin compliance could affect Velocity’s ability to offer seamless connections between crypto and traditional finance, influencing its growth prospects. Analyst inference
3. Adoption by large enterprises or partnerships with fintech firms will signal market acceptance and could drive further investment into similar stablecoin infrastructure startups. Analyst inference

Affected assets

• XRP — XRP

Evidence

• theblock.co