Quick Overview of the Velo Labs Ecosystem: Bridging Traditional Finance and Web3
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Quick Overview of the Velo Labs Ecosystem: Bridging Traditional Finance and Web3
Can VELO replicate ONDO's growth trajectory by incorporating BlackRock's BUIDL into USDV?
Navigating Web3 tides with focused insightsAuthor: Alex Liu, Foresight News
What is Velo Labs?
A Thai project backed by a lead investment from CP Group, Velo Labs has steadily grown since its launch in 2018. The company focuses on delivering 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, its operations have expanded beyond Southeast Asia and the Pacific region, now serving global partners.
Velo Labs aims to bridge and complement the gap between traditional banking infrastructure and Web3, leading the way toward mass blockchain adoption. Its Web3-powered payment network and authorized settlement partner, Lightnet, have achieved global impact.
The product suite includes:
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Quantum: A one-stop remittance network that enhances traditional financial systems with blockchain-enabled money transfers.
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Universe: A multi-chain DEX enabling low-cost trading of global assets on a high-performance decentralized exchange.
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Nova Chain: An affordable, general-purpose blockchain with EVM compatibility.
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Orbit: A crypto super app tailored for individuals, merchants, companies, and enterprises worldwide, designed to enhance global financial connectivity and accessibility.
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Warp: A multi-network cross-chain bridge allowing users to freely move assets across blockchains.
Velo Labs launched its utility token VELO in September 2020, which is now listed on major exchanges including OKX, Bybit, Bitget, and Crypto.com. The token is deployed on both the Stellar Network and BNB Smart Chain.
Project Updates
Focusing on Southeast Asia: Advancing Laos’ Digital Finance
Earlier this year, Velo Web3 + Ecosystem partnered with PTL Holding Co. Ltd to help usher Laos into a new era of economic growth and digital innovation. The Memorandum of Understanding (MoU) solidifies a strategic collaboration that aligns with Laos’ national digital economy plan, reinforcing the country’s progressive stance in the global financial landscape.
Collaborating with Solana Foundation to Build "Digital Gold"
In April, Velo released a whitepaper for its digital gold product, introducing a secure, tokenized way to hold gold and transform how investors interact with this classic asset. This initiative builds upon a recent MoU signed with the Solana Foundation, using Solana as the blockchain settlement layer and Velo as the core infrastructure and clearinghouse for digital gold transactions in Laos. This partnership enhances the efficiency and security of PLG Gold trading while ensuring interoperability and connectivity across blockchains.
Incorporating BlackRock’s BUIDL into USDV Reserves
On September 10, BlackRock announced it had selected the Velo Labs platform to include BUIDL—its $500 million tokenized U.S. Treasury fund issued via Securitize—into the reserve pool backing USDV, Velo’s ecosystem stablecoin.
Velo will use Securitize’s stablecoin USDV as the preferred stablecoin option for over one million users and vendors on the Velo Orbit payments app across Southeast Asia, enabling seamless payment transactions and new sustainable yield opportunities.
With this latest collaboration boosting its ecosystem, how will Velo’s growth trajectory evolve? One potential reference is ONDO, which initially partnered with Securitize and integrated BlackRock products in March and May. Since then, the reserve assets backing its stablecoin have surged from $20 million to approximately $600 million. Despite ONDO’s active efforts, it has yet to expand its footprint in Asia. Velo’s strong local presence could give it a competitive edge in the Asian market.
Currently, ONDO’s market cap is about 14 times that of VELO. After this latest positive development, will the gap between the two gradually narrow? Only time will tell.
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