VelaFi, a stablecoin-based financial infrastructure company, has raised $20 million in a Series B round, Cointelegraph reported on Sunday.
Since its founding in 2020, VelaFi has built payment infrastructure linking local banking systems, global remittance networks and stablecoin protocols.
With the investment, it plans to accelerate expansion in the United States and Asia, secure licenses and speed development of cross-border payment and settlement infrastructure. It will step up its push into Japan.
Before expanding to the United States and Asia, VelaFi focused on targeting the Latin American market.
Stablecoin payments are rising sharply in Latin America. A Chainalysis report said more than half of transactions using the Colombian peso, Argentine peso and Brazilian real from July 2024 to June 2025 were carried out in stablecoins.
Chi-gyu Hwang
delight@d-today.co.kr