Ripple Participates in $38 Million Series A Investment

Ripple has participated in a $38 million Series A investment in the enterprise-focused stablecoin payment infrastructure startup Velocity. With this funding round, Velocity's total investment raised has increased to approximately $48 million. Velocity announced that several investors, including Ripple, participated in the investment co-led by Dragonfly and FirstMark on July 14. The funds will be used to expand the enterprise stablecoin payment and treasury management infrastructure. Velocity is developing a platform that allows businesses and payment providers to hold, transfer, and settle funds using stablecoins by connecting existing banking networks with blockchain networks. QED Investors explained that the existing payment networks require businesses and financial institutions to deposit significant funds in advance. Although Ripple's individual investment amount has not been disclosed, U.Today reported that Ripple participated in an additional funding round of $10 million. Velocity is set to participate in a Visa Direct pilot program with MVB Financial to expand its payment infrastructure. This investment demonstrates Ripple's commitment to deploying capital not only for its own stablecoin issuance but also for enterprise payment and treasury management infrastructure.

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