Alibaba Investment has participated in a $20 million Series B funding round for VelaFi, a Latin American stablecoin financial platform. This investment brings VelaFi's total funding to over $40 million, highlighting growing confidence in the stablecoin payment sector. VelaFi's infrastructure facilitates instant, low-cost cross-border settlements, aligning with Alibaba's interest in enhancing payment solutions in emerging markets. The funding round was led by XVC and Ikuyo, with participation from Planetree and existing investor BAI Capital. VelaFi, a subsidiary of Galactic Holdings, focuses on B2B markets, offering services like fiat on-ramp/off-ramp and global payments. The platform integrates with major Latin American payment systems, enabling seamless cross-border transactions and expanding its reach beyond Latin America to the U.S. and Asia.
Alibaba Invests in Latin American Stablecoin Firm VelaFi
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