Latin American stablecoin payment company VelaFi completes $20 million Series B funding round with participation from Alibaba

PANews reported on January 12 that Latin American stablecoin payment infrastructure company VelaFi announced the completion of a $20 million Series B funding round, led by XVC and Ikuyo, with participation from Alibaba Investment, Planetree, and BAI Capital, bringing the total funding to over $40 million. The funds will be used to expand compliance, banking connectivity, and operations in the United States and Asia. VelaFi has already processed billions of dollars in transactions for hundreds of enterprise clients, providing stablecoin solutions including cross-border payments, multi-currency accounts, and asset management.