The recent popularity of the stablecoin track shows no signs of waning. VelaFi, which focuses on enterprise-level payments, recently completed Series B funding, raising $20 million led by XVC and Ikuyo, with participation from well-known institutions including Alibaba Investment, Planetree, and BAI Capital. In total, VelaFi has raised over $40 million.

Speaking of VelaFi's product positioning, its core is centered around stablecoins. They have built an enterprise-grade payment and fund management infrastructure that covers deposit and withdrawal, cross-border payments, multi-currency account management, and API interfaces. Simply put, they fully unleash the liquidity and convenience of stablecoins, providing businesses with more flexible options for international transfers and multi-currency settlements.

This funding milestone is quite interesting. On one hand, it indicates that capital remains optimistic about the long-term prospects of stablecoin infrastructure. On the other hand, it also reflects that the cross-border payment and enterprise-level crypto application track is still continuously improving. Behind this Series B funding for VelaFi is actually a signal that the entire Web3 payment infrastructure is deepening into industry-level applications.