A quick look at the Velo Labs ecosystem, a bridge between traditional finance and Web3

Written by Alex Liu, Foresight News

What is Velo Labs?

Velo Labs, a Thai project led by CP Group, has been developing steadily since its launch in 2018. Its products are committed to providing financial solutions based on Web3, including top liquidity and settlement networks to achieveSafety, efficient value transfer. With the support of Stellar Network and CP Group, its business scope has expanded beyond Southeast Asia and the Pacific region, and currently serves global partners.

Velo Labs is committed to bridging and complementing the gap between traditional banking infrastructure and Web3, leading theBlockchainMass adoption. Its Web3-based payment network and licensed settlement partner, Lightnet, has global impact.

The specific product matrix includes:

• Quantum : One-stop remittance network, through supportBlockchainRemittances strengthen traditional financial networks.

• Universe: Multi-chain DEX, decentralized with high performance at low costexchangeTrade global assets on .

• Nova Chain: Affordable general purposeBlockchain, with EVM compatibility.

• Orbit: A crypto super app tailored for individuals, merchants, companies and enterprises around the world, dedicated to enhancing global financial connectivity and expanding global accessibility.

• Warp：多网络跨链桥，用户可通过该多链桥在Blockchain上自由移动资产。

Velo Labs launched its feature in September 2020Token VELO has been launched on mainstream exchanges such as OKX, Bybit, Bitget, and Crypto.comexchange;ThatTokenDeployed on Stellar Network and BNB Smart Chain.

Project Progress

Cultivating the Southeast Asian market and promoting the development of digital finance in Laos

Earlier this year, Velo Web3+ Ecosystem partnered with PTL Holding Co. Ltd to drive Laos into a new era of economic growth and digital innovation. Through the signing of a Memorandum of Understanding (MOU), the strategic collaboration solidified by Velo Web3+ Ecosystem underscores Laos’ progressive stance in the global financial landscape, aligning its vision with the Lao National Digital Economy Plan.

Joining forces with the Solana Foundation to create "digital gold"

In April this year, Velo launched its digital gold productXiaobai Navigationwhite paper on the product, which proposes aSafety的数字化Token持有黄金的新方式，旨在改变投资者与这一经典资产的互动。该计划以最近与 Solana 基金会签署的谅解备忘录为基础，用 Solana 作为区块链结算层，以 Velo 作为老挝数字黄金交易的核心基础设施和清算所。该合作关系提高了 PLG Gold 交易的效率和SafetyIt ensures interoperability and connectivity between blockchains.

Add BlackRock BUIDL to USDV reserves

On September 10, BlackRock announced that it had selected the Velo Labs platform to include its $500 million tokenized U.S. Treasury bond fund BUIDL provided by Securitize into the USDV (Velo ecological stablecoin) reserve asset pool.

Velo will use Securitize’s stablecoin USDV as the stablecoin of choice for over 1 million users and vendors on the Velo Orbit payment app in Southeast Asia, providing seamless payment transactions and new sustainable earning opportunities.

With the latest collaboration to empower the ecosystem, how will Velo's growth trajectory change? Perhaps we can refer to ONDO, which initially partnered with Securitize and integrated Blackrock's products in March and May. Since then, the reserve assets supporting its stablecoin have increased from 20 million to about 600 million US dollars. And despite ONDO's active attempts, it has not been able to expand its Asian business. Velo's deep local influence may make it more competitive in Asia.

Currently, ONDO's market value is about 14 times that of VELO. After the latest positive news is released, will the gap between the two gradually narrow? I believe time will give the answer.

The article comes from the Internet:A quick look at the Velo Labs ecosystem, a bridge between traditional finance and Web3

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