VelaFi, a stablecoin-powered monetary infrastructure supplier underneath Galactic Holdings, has raised $20 million in a Sequence B funding spherical led by XVC and Ikuyo, the corporate stated in a press launch Monday.
The spherical additionally included participation from Alibaba Funding, Planetree, BAI Capital, and different international buyers, bringing the corporate’s whole funding to greater than $40 million.
Based in 2020, VelaFi initially constructed fee infrastructure in Latin America and has since expanded into the U.S. and Asia. Its platform connects native banking rails, cross-border fee networks and main stablecoin protocols, permitting enterprises to maneuver funds throughout markets extra rapidly and at decrease price than by way of conventional programs.
The corporate affords on- and off-ramps, pay-ins and pay-outs, cross-border funds, multi-currency accounts, international change instruments and asset administration providers, delivered by way of a direct platform or APIs.
Stablecoins have emerged as a key device in international funds, providing blockchain-based digital tokens designed to keep up a steady worth and settle transactions in minutes relatively than days.
As soon as largely confined to crypto buying and selling, they’re more and more utilized by enterprises for cross-border funds, treasury administration and liquidity operations, significantly in areas the place conventional banking rails are gradual or pricey.
That shift has drawn rising curiosity from regulators and monetary establishments, positioning stablecoins as a possible bridge between legacy finance and blockchain-based settlement programs.
“We’re constructing the subsequent technology of worldwide fee infrastructure, one that’s instantaneous, clear, and regulatory-first,” stated Maggie Wu, CEO and co-founder of VelaFi, within the launch. “This funding accelerates our international growth from Latin America into the US and Asia.”
Stablecoins are more and more used for cross-border settlement, with trade estimates inserting annual stablecoin transaction volumes within the tens of trillions of {dollars}. VelaFi is betting that demand from enterprises for quicker and extra interoperable fee infrastructure will proceed to develop as international finance shifts away from slower, fragmented legacy rails.
The agency stated it has served tons of of enterprise shoppers and processed billions of {dollars} in transaction quantity.
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