Stablecoin financial infrastructure provider VelaFi announced the completion of a $20 million Series B funding round, led by XVC and Ikuyo, with participation from Planetree, BAI Capital, and Alibaba Investment, among others. This brings the company's total funding to $40 million. Founded in 2020, VelaFi initially built payment infrastructure in Latin America before expanding to the US and Asia. Its platform connects local banking systems, cross-border payment networks, and major stablecoin protocols, enabling businesses to transfer funds across markets faster and at a lower cost than traditional systems. (CoinDesk)