TechFlow news — On September 18, according to official announcements, Singapore-based blockchain payment company Velo Labs has received a second strategic investment from UOB Venture Management (UOBVM), the private equity and venture capital subsidiary of United Overseas Bank (UOB). Recently, Velo Labs integrated BlackRock’s tokenized short-term Treasury fund (BUIDL), supported by Securitize’s bond infrastructure, into its ecosystem.
As of September 2024, UOB has a market capitalization of approximately SGD 54 billion and manages over SGD 500 billion in total assets. UOBVM’s continued backing of Velo Labs highlights the growing potential of the blockchain industry, particularly in cross-border payments and real-time multi-asset trading. A spokesperson for Velo Labs’ management team stated: “UOBVM’s ongoing support, combined with our recent integration of BlackRock’s tokenized products, marks an exciting new phase for Velo Labs. We are bringing together best-in-class financial technologies to build a truly interconnected ecosystem—and this is just the beginning.”
