Stablecoin financial infrastructure provider VelaFi completes $20 million Series B funding round, led by XVC and Ikuyo

According to Odaily, stablecoin financial infrastructure provider VelaFi has announced the completion of a $20 million Series B funding round, co-led by XVC and Ikuyo, with participation from Planetree, BAI Capital, and Alibaba Investment, a subsidiary of Alibaba. To date, the company's total funding has reached $40 million. Founded in 2020, VelaFi initially built payment infrastructure in Latin America and has since expanded its operations to the United States and Asia. Its platform connects local banking systems, cross-border payment networks, and mainstream stablecoin protocols, enabling enterprises to transfer funds across markets faster and at lower costs than traditional systems. (CoinDesk)