Unveiling Velo Labs: Bridging Traditional Finance and Web3

What is Velo Labs?

Velo Labs, a Thailand-based project backed by CP Group, has been steadily growing since its launch in 2018. It focuses on providing Web3-based financial solutions, including top-tier liquidity and settlement networks to enable secure and efficient value transfer.

Supported by Stellar Network and CP Group, Velo Labs’ reach has expanded beyond Southeast Asia and the Pacific, now serving global partners.

Velo Labs aims to bridge the gap between traditional banking infrastructure and Web3, driving large-scale blockchain adoption. Its Web3 payment network and authorized settlement partner, Lightnet, have a global presence.

Velo Labs Product Portfolio

• Quantum: A one-stop remittance network that enhances traditional financial networks with blockchain-supported remittances.
• Universe: A multi-chain DEX offering low-cost trading of global assets on a high-performance decentralized exchange.
• Nova Chain: A cost-effective, general-purpose blockchain with EVM compatibility.
• Orbit: A crypto super app tailored for individuals, merchants, companies, and enterprises worldwide, focused on enhancing global financial connectivity and accessibility.
• Warp: A multi-network cross-chain bridge allowing users to move assets freely across blockchains.

In September 2020, Velo Labs launched its utility token, VELO, now listed on major exchanges like OKX, Bybit, Bitget, and Crypto.com. The token is deployed on the Stellar Network and BNB Smart Chain.

Project Developments

Expanding in Southeast Asia, Driving Digital Finance in Laos

Earlier this year, Velo Web3 + Ecosystem partnered with PTL Holding Co. Ltd. to drive economic growth and digital innovation in Laos.

The signing of a Memorandum of Understanding (MOU) solidified their strategic collaboration, aligning with Laos’ national digital economy agenda and emphasizing the country’s progressive stance in the global financial landscape.

Partnering with Solana Foundation to Launch “Digital Gold”

In April, Velo released a whitepaper for its digital gold product, proposing a new way to securely hold gold through tokenization.

This plan builds on the MOU signed with Solana Foundation, using Solana as the blockchain settlement layer, with Velo serving as the core infrastructure and clearinghouse for digital gold trading in Laos.

This partnership improves the efficiency and security of PLG Gold transactions, ensuring blockchain interoperability and connectivity.

Integrating BlackRock’s BUIDL into USDV Reserves

On September 10, BlackRock announced it had chosen Velo Labs’ platform to include its $500 million tokenized U.S. Treasury fund, BUIDL (provided by Securitize), in the USDV (Velo ecosystem stablecoin) reserve asset pool.

Velo will utilize Securitize’s stablecoin, USDV, as the preferred stablecoin for over one million users and vendors on the Velo Orbit payment app in Southeast Asia, offering seamless transactions and new sustainable yield opportunities.

With these recent partnerships empowering the ecosystem, how will Velo’s growth trajectory evolve? A reference point could be ONDO, which initially collaborated with Securitize and integrated BlackRock’s products in March and May.

Since then, ONDO’s reserve assets backing its stablecoin have grown from $20 million to around $600 million. Despite ONDO’s active efforts, it has not yet expanded its presence in Asia. Velo’s deep local influence could give it a competitive edge in the region.

Currently, ONDO’s market cap is about 14 times that of VELO. Will the recent positive developments narrow the gap between the two?

Time will tell.