VelaFi, a fintech company specializing in stablecoin-powered payment solutions, has successfully closed a significant funding round to expand its global payment network. The company announced the completion of a $20 million Series B financing on January 12, during events held in Dallas and Mexico City. The funding round was led by venture capital firms XVC and Ikuyo, with notable participation from Alibaba Investment, Planetree, BAI Capital, and several other investors.

This latest round of funding marks a significant milestone for VelaFi, bringing the total capital raised by the company to an impressive amount. The injection of funds will enable VelaFi to further develop and enhance its stablecoin-powered payment network, allowing for greater accessibility and usability of digital assets in the global financial landscape.

Stablecoins are a type of cryptocurrency that are pegged to a stable asset, such as a fiat currency like the US dollar. This stability makes them an attractive option for digital payments and transfers, as they offer lower volatility compared to traditional cryptocurrencies like Bitcoin or Ethereum. By leveraging stablecoins in its payment network, VelaFi aims to provide users with a reliable and efficient means of conducting transactions across borders, without the fluctuations commonly associated with other cryptocurrencies.

VelaFi's payment network is designed to offer fast, secure, and cost-effective cross-border transactions, catering to the growing demand for digital payment solutions in today's increasingly interconnected world. By utilizing stablecoins, the company is able to provide users with a seamless payment experience, eliminating the need for traditional banking intermediaries and reducing transaction fees and processing times.

The participation of prominent investors like XVC, Ikuyo, Alibaba Investment, Planetree, and BAI Capital in this Series B funding round underscores the confidence and support in VelaFi's vision and technology. With the backing of these investors, VelaFi is well-positioned to accelerate its growth and expand its presence in key markets around the world.

VelaFi's commitment to innovation and its focus on leveraging stablecoin technology to revolutionize the payments industry have positioned the company as a leader in the fintech space. The successful completion of the Series B funding round not only validates VelaFi's business model but also sets the stage for the company to make significant strides in advancing the adoption of digital assets in global payment systems.

As VelaFi continues to enhance its stablecoin-powered payment network and expand its reach, the company is poised to play a pivotal role in shaping the future of finance and driving the mainstream

Source: https://news.bitcoin.com/velafi-secures-20-million-series-b-to-expand-stablecoin-infrastructure/