San Francisco-based company Ripple has taken part in a $10 million funding extension for stablecoin-focused payments platform Velocity.
The funding round, which has now been expanded to an impressive $48 million, has allowed the London-based company to reach a valuation of $200 million.
It is worth noting that the company behind the XRP cryptocurrency was already an investor in Velocity before the latest expansion took place.
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The aforementioned round was also backed by such investors as Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, and Wintermute Ventures.
Velocity is working on increasing the efficiency of payment settlements by connecting traditional financial infrastructure with stablecoin rails.
With the help of the companys platform, stablecoins can serve as an always-on layer for settlements.
The startup, which was founded in 2025, specifically targets merchants, financial institutions, fintech companies, and payment providers.
Visa push
Earlier this month, Velocity and MVB Financial announced that MVB would participate in a Visa Direct pilot.
Velocity‘s tech makes it possible to plug stablecoin-based liquidity directly into MVB’s infrastructure.
Ripples stablecoin involvement
Ripple became a major player within the stablecoin sector after issuing its own RLUSD stablecoin.
According to data provided by CoinGecko, Ripples RLUSD currently has a market cap of roughly $2.4 billion, which makes it the 42nd biggest cryptocurrency by market capitalization.