TechFlow News – According to official announcements, on November 30, Velo Labs announced a collaboration with Lightnet Group (Lightnet Pte. Ltd.) and Visa Worldwide Pte. Limited to jointly develop an Asia-focused payment solution aimed at addressing the underserved lending market for micro, small, and medium enterprises (MSMEs) in Asia. The VELO token will serve as the digital asset used as collateral within this financial solution.
The partnership between Velo Labs, Lightnet Group, and Visa Worldwide enables near real-time global transactions among participating banks, remittance operators, and other financial service providers, thereby expanding the reach of all three companies. The initiative aims to provide credit lines to users with poor or no credit history by using stored digital assets as collateral. This approach is ideally suited to connect over one billion unbanked and underbanked individuals across the Asia-Pacific region to the global financial system, with the VELO token playing a central role as the digital collateral asset within the financial solution.
