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Stablecoin financial infrastructure company VelaFi announces completion of a $20 million Series B funding round, led by XVC and Ikuyo, with investments from Alibaba, Planetree, BAI Capital, and others. The company's total funding has exceeded $40 million. VelaFi provides enterprise-grade payment and fund management infrastructure based on stablecoins, covering deposits and withdrawals, cross-border payments, multi-currency accounts, and API services. The company stated that this round of funding will be used to expand licensing, banking connections, and operational capabilities in the US and Asian markets to meet the demand for faster and lower-cost cross-border settlements. (CoinDesk)