VelaFi Raises $20 Million to Enhance Global Stablecoin Infrastructure
- VelaFi secured $20 million in Series B funding, bringing total funding to over $40 million.
- The investment was led by XVC and Ikuyo, with contributions from Alibaba Investment and others.
- Funds will be used to expand operations in the US and Asia, focusing on stablecoin payment solutions.
- VelaFi aims to integrate banking systems globally while offering services like cross-border transactions and secure asset management.
- CEO Maggie Wu highlighted the need for instantaneous and transparent global payment infrastructures.
The expansion of VelaFi’s stablecoin capabilities is significant as global payments exceed $150 trillion annually, with stablecoins facilitating $25-30 trillion in settlement volumes across various sectors.
This funding will accelerate VelaFi’s efforts to enhance its presence in key economic regions like the US and Asia, reflecting a growing demand for efficient digital finance solutions. (Source)
