VelaFi raises $20M to expand stablecoin payments across Latin America, US and Asia

VelaFi, a stablecoin-based financial infrastructure company under Galactic Holdings, said it raised $20 million in a Series B round to support expansion of its enterprise payments and settlement services across Latin America, the United States and Asia. The round was led by XVC and Ikuyo and brings the company’s total funding to more than $40 million.

Founded in 2020, VelaFi provides payments infrastructure that connects local banking systems, global transfer networks and stablecoin protocols. Its services include fiat on- and off-ramps, cross-border payments, foreign exchange workflows and multi-currency treasury operations, offered through its platform and via APIs.

The company said the new funding will be used to support geographic expansion and licensing efforts, and to further develop its payments and settlement infrastructure for cross-border business use. VelaFi built its early operations in Latin America before expanding into the United States and Asia; in October it entered the Japanese market and said it will participate as a co-organizer of the Stablecoin Settlement Association to help modernize the country’s trade finance infrastructure.

Retail stablecoin use has expanded across Latin America, driven by inflation and remittances. According to a Chainalysis report, stablecoin purchases accounted for more than half of all exchange purchases involving the Colombian peso, Argentine peso and Brazilian real from July 2024 to the end of June 2025.

Key Topics

Crypto, Velafi, Stablecoins, Latin America, Japan, Stablecoin Settlement Association