According to CoinDesk, on January 12, stablecoin payment infrastructure provider VelaFi completed a $20 million Series B financing led by XVC and Ikuyo. Global investors such as Alibaba Investment, Planetree, and BAI Capital participated in the investment, bringing the total financing to the company to more than $40 million.

Founded in 2020, VelaFi initially built its payment infrastructure in Latin America and has since expanded to the United States and Asia. The platform connects local banking systems, cross-border payment networks, and major stablecoin protocols, enabling businesses to transfer funds across markets in a faster and less costly manner than traditional systems. Maggie Wu, CEO and co-founder of the company, said the round will accelerate the company's global expansion from Latin America to the United States and Asia.