Why they are positioned to be the best
Velocity is tackling inefficiencies in the global cross-border market by delivering a unified solution. Enterprises currently face significant pain points like high FX fees (often up to 5%), fragmented payment rails, and capital inefficiencies with legacy systems. Velocity Pay provides an enterprise-grade solution that leverages a global network of banking partners and qualified custodians to reduce FX costs and latency. Their platform offers modular Treasury Management System (TMS) tools to optimise working capital, automate flows, and provide real-time control.
Velocity Pay is presented as the only player in its cohort offering full-stack treasury capabilities with embedded settlement and custody infrastructure. While many competitors focus on specific use cases (like payroll, payouts, or SME invoicing), Velocity is building a scalable solution covering all key functions of enterprise-level financial operations. Its positioning is strengthened by a unique Go-To-Market (GTM) strategy targeting finance leaders with high-value, persistent use cases across FX, capital markets, and settlement. The platform includes on/off-ramp infrastructure, FX optimisation, treasury tools, merchant settlement capabilities with end-to-end visibility, and security built with qualified custody and compliance. This modular architecture allows users to integrate as needed, replacing outdated systems. Velocity's tech platform addresses seamless interoperability between fiat and stablecoins.
Strong Founding Team and Advisory Board
The Velocity Pay team is highlighted as a significant strength. The co-founders are:
- Tom Greenwood: A seasoned fintech entrepreneur with over two decades in financial services, he founded IFX Payments (exited) and Volt, a real-time payments company named UK Fintech of the Year 2024. He has a proven track record in building infrastructure fintech from zero to scale and a deep technical intuition. His global network is seen as valuable for opening doors across financial institutions, regulators, and investors.
- Eric Queathem: A global payments executive and former senior leader at Worldpay, where he led initiatives generating over $500M in incremental revenue. His experience includes crypto, payouts, M&A, and geo-expansion, and he previously worked at McKinsey. His mix of operational rigour, strategic insight, and enterprise sales experience provides a strong edge in execution, and his international network supports Velocity's distribution and licensing ambitions.
The combination of their experience covers working at a large payments platform (WorldPay) and a large open banking company (Volt). They have experience scaling companies from incorporation through to later stages. The sources mention connections to Fireblocks, Circle/LP, and custodians like Todis Custody and Fireblocks.
Market Size
and Opportunity
The global cross-border payments market is expected to exceed $300 billion by 2026. It is characterised by high fees charged by acquirers and card schemes. Even large enterprise firms are charged up to 5% FX fees to return funds to operational currencies. Key drivers of cross-border volume growth include remittances, e-commerce, and SME internationalisation, with total volume reaching $150T in 2022, up 13% from 2021. Stablecoins are seen as mainstream with strong regulatory tailwinds. The total market cap of stablecoins is over $190 billion, and transfer volumes have increased significantly, exceeding $1 trillion per month. Over 25 countries globally have now written regulatory frameworks to support stablecoin adoption.
Velocity Pay is positioned at the convergence of treasury digitisation, stablecoin legitimacy, programmable finance, and enterprise globalisation.