Alibaba Invested in a Latin American Stablecoin Company, Why VelaFi?

marsbit2026-01-14 tarihinde yayınlandı2026-01-14 tarihinde güncellendi

Özet

VelaFi, a financial infrastructure platform focused on Latin America and bridging fiat and crypto, has raised $20 million in a Series B round, bringing its total funding to over $40 million. Notably, the investment round included participation from Alibaba Investment, a subsidiary of Alibaba Group. Alibaba's investment is strategic, as VelaFi's stablecoin-based infrastructure enables instant, low-cost cross-border settlements. This addresses key pain points of high fees and slow processing times, aligning with Alibaba's goals for its AliExpress and B2B platforms in emerging markets. The funding was co-led by XVC and Ikuyo, with participation from other firms. VelaFi, part of Galactic Holdings and led by CEO Maggie Wu, was formerly known as TruBit Business. It has expanded from Latin America into the U.S. and Asia, serving hundreds of enterprise clients and processing billions in transaction volume. VelaFi's core B2B model focuses on two main services: providing regulated on/off ramps for converting between local fiat and stablecoins, and facilitating cross-border payments by converting one local currency directly into another (e.g., Mexican Pesos to Brazilian Reals). It achieves this by integrating with local instant payment systems like Mexico's SPEI and Brazil's PIX, using stablecoins as a settlement layer to create a faster, more efficient alternative to traditional banking channels.

A financial infrastructure platform deeply rooted in Latin America, dedicated to connecting the fiat and crypto worlds, is emerging.

On January 12, VelaFi officially announced the completion of a $20 million Series B funding round. With this round, VelaFi's total funding has exceeded $40 million. This amount not only confirms the market's confidence in the stablecoin payment sector.

It is worth noting that Alibaba Investment, an investment institution under Alibaba Group, appeared among VelaFi's investors.

Why Alibaba?

Alibaba Investment is a wholly-owned subsidiary of Alibaba Group, established in the British Virgin Islands in 2000.

As one of the world's largest B2B and B2C trade platforms, Alibaba is well aware of the pain points in cross-border payments—high fees, lengthy settlement cycles, and exchange rate volatility risks.

The stablecoin infrastructure provided by VelaFi enables instant, low-cost cross-border settlements. VelaFi's deep presence in emerging markets like Latin America overlaps with the key growth regions of AliExpress and Alibaba.com.

Through this investment, Alibaba is likely exploring the use of stablecoin technology to optimize its local payment and merchant settlement experience in emerging markets.

Who Else is Betting on VelaFi?

VelaFi's current funding round was led by XVC and Ikuyo, with participation from Alibaba Investment, Planetree, and existing investor BAI Capital, among others. To date, VelaFi's total funding has surpassed $40 million.

One of the lead investors, XVC, is a dual-currency (RMB and USD) fund management institution headquartered in Beijing. Its partner, Boyu Hu, has invested in star companies like Kuaishou, Weee!, Walnut Programming, and霸王茶姬 (a popular tea chain).

The other lead investor, Ikuyo, is a Tokyo-listed company. This investment is not their first interaction; as early as November 2025, when VelaFi entered the Japanese market, the two parties had already reached a strategic cooperation agreement, jointly becoming co-organizers of the Stablecoin Settlement Association to provide more transparent and economical settlement services for exporters and global enterprises.

Who is VelaFi?

VelaFi is part of Galactic Holdings. Galactic Holdings was founded by a Chinese founding team. Its co-founder and CEO, Maggie Wu, is also the CEO of VelaFi and the founder of the well-known venture capital firm Krypital Group.

Galactic Holdings owns the crypto wallet TruBit, the trading platform TruBit Pro, and the cross-border payment solution for businesses, TruBit Business. In 2025, the original enterprise-level business, TruBit Business, was officially rebranded as VelaFi.

Currently, starting from Latin America, VelaFi has expanded its business footprint to the United States and Asia. VelaFi states that it has served hundreds of enterprise customers to date, processing billions of dollars in payment transaction volume.

Core Model

VelaFi focuses on the B2B market. To ensure compliance, all corporate customers must pass strict KYC (Know Your Customer) and KYB (Know Your Business) verification before accessing VelaFi's service network.

Its core model can be summarized in three points:

1. Fiat On-Ramp & Off-Ramp Channels

This is VelaFi's foundational business, aiming to solve the industry challenge of free conversion between fiat currency and stablecoins.

On-Ramp: Allows end-users of enterprises to pay using local fiat currency, while the enterprise receives an equivalent amount of stablecoins (like USDT/USDC) or assets like Bitcoin.

Off-Ramp: The enterprise sends stablecoins to VelaFi, and VelaFi utilizes its local banking network to deposit funds into the user's bank account in the form of local fiat currency.

2. Global Payments & Cross-Border Transfers

Another service is global payment services, enabling cross-border fund transfers via a "Fiat A - Fiat B" path. For example, a Mexican company paying a Brazilian vendor. Previously, this involved complex intermediary banks. Now, through VelaFi, the payment is made in Pesos (MXN), and the recipient receives Reais (BRL).

VelaFi acts like an "accelerator" built on top of traditional banking rails.

Its core advantage lies in its deep integration with Latin America's mainstream instant payment systems: Mexico's Interbank Electronic Payment System (SPEI), Brazil's Instant Payment System (PIX), and Colombia's Payment System (PSE). By linking these traditional payment rails with stablecoin liquidity, VelaFi enables cryptocurrency to no longer just float on the chain but to potentially be truly implemented in cross-border e-commerce, labor outsourcing, and international trade.

İlgili Sorular

QWhat is VelaFi and what is its core business model?

AVelaFi is a financial infrastructure platform focused on connecting fiat and crypto currencies, specializing in B2B services. Its core model includes fiat on-ramp/off-ramp services (converting local fiat to stablecoins and vice versa) and global cross-border payment solutions that enable instant, low-cost transactions between different fiat currencies using stablecoin technology.

QWhy did Alibaba's investment arm, Alibaba Investment, invest in VelaFi?

AAlibaba Investment invested in VelaFi because Alibaba, as a major global e-commerce platform, faces challenges with high fees, slow settlement times, and exchange rate risks in cross-border payments. VelaFi's stablecoin infrastructure offers instant, low-cost settlements, particularly in Latin America—a key growth market for Alibaba's AliExpress and Alibaba International—potentially optimizing local payment and merchant settlement experiences.

QWhich companies led the Series B funding round for VelaFi?

AThe Series B funding round for VelaFi was co-led by XVC, a Beijing-based dual-currency fund, and Ikuyo, a Tokyo-listed company. Other participants included Alibaba Investment, Planetree, and existing investor BAI Capital.

QWhat regions does VelaFi primarily operate in, and what traditional payment systems has it integrated?

AVelaFi started in Latin America and has expanded to the U.S. and Asia. It has deeply integrated with major local instant payment systems in Latin America, including Mexico's SPEI, Brazil's PIX, and Colombia's PSE, linking these traditional payment rails with stablecoin liquidity to facilitate efficient cross-border transactions.

QHow much funding has VelaFi raised in total, and what is its parent company?

AVelaFi has raised over $40 million in total funding. It is a subsidiary of Galactic Holdings, a company founded by a Chinese team, with CEO Maggie Wu also being the founder of Krypital Group. Galactic Holdings also owns crypto wallet TruBit and exchange TruBit Pro.

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