This week, Velocity, a financial infrastructure firm, broke headlines with a $10M pre-seed funding round. The round was orchestrated and led by Activant Capital, with additional investment from a range of companies including Fuel Ventures, Triton Capital, Fabric Ventures, Commerce Ventures and Preface Ventures.
Velocity is an innovative platform leveraging blockchain technology to issue and manage stablecoins. Stablecoins are cryptocurrencies backed by fiat currencies. They have gained widespread popularity due to their potential to reduce the volatility commonly associated with digital currencies. Through this successful round of funding, Velocity aims to consolidate its market presence and foster extensive stablecoin adoption.
The funding event amazingly witnessed participation from strategic shareholders as well. These include notable current or former executives from leading fintech companies such as Stripe, Worldpay, and Visa.
The impressive roster of investors and their significant capital demonstrate the high level of confidence the market has in Velocity and its stablecoin solutions. With the surge in cryptocurrency adoption worldwide and the inherent volatility risk of cryptocurrencies in their existing form, stablecoin infrastructure companies like Velocity have a unique and critical role in shaping the future of finance.
Velocity‘s $10M pre-seed funding not only ascertains its strong market position but also sets a formidable precedent for other startups in the stablecoin space.
In conclusion, the success of this funding event evidences that the fintech industry views Velocity‘s solution as an integral part of the cryptocurrency ecosystem. It can be interesting to observe how Velocity will utilize this funding to further revolutionize the stablecoin landscape.
