Velo Labs, Lightnet Group and Visa to develop payment solutions in Asia

SINGAPORE, 30 November 2020 – Velo Labs Technology Ltd. (Velo Labs) has announced a collaboration with Lightnet Pte. Ltd. (Lightnet Group) and Visa Worldwide Pte. Limited (Visa) to jointly develop payment solutions in Asia.

●    Velo Labs, Lightnet Group and Visa to collaborate on payment solutions in Asia

●    VELO tokens to serve as the digital asset collateralizing financial solutions

With a Memorandum of Understanding (MoU) in effect between the parties, Velo Labs, Lightnet Group and Visa will collaborate on payment solutions aimed at addressing the under-served micro, small and medium enterprise (MSME) lending market in Asia. The International Finance Corporation estimates that, globally, USD 5.2 trillion in MSME lending goes unserved annually, with more than half of this financing gap existing in the Asia-Pacific (APAC) region.

“Being new-to-credit or lacking creditworthiness is often an obstacle to achieving one’s financial goals, such as securing loans to start a business or even buying a car,” said Tridbodi Arunanondchai, Vice Chairman and Group CEO of Lightnet Group. “We are delighted to be a part of this unique cooperation along with trusted partners like Velo Labs and Visa. We are providing customers from the MSME market with another pathway to build credit and improve financial wellness.”

Velo Labs, Lightnet Group and Visa’s partnership extends the reach of all three firms by allowing near real-time global transactions between participating banks, money transfer operators and other financial service providers. This initiative aims to enable users with poor or inexistent credit histories to receive a line of credit by depositing digital assets as collateral. This approach is ideally suited to connect over one billion unbanked and underbanked individuals in APAC to the global financial system. VELO tokens will serve as the digital asset collateralizing financial solutions.

“This agreement is a testament to Velo Labs’ and its partners’ continuous efforts to achieve financial inclusion for millions in the under-served MSME lending market. It also illustrates VELO’s capacity as a bridge asset enabling greater financial inclusion,” says Chatchaval Jiaravanon, Chairman of Velo Labs.

About Velo Labs

Velo Labs’ mission is to build a Federated Credit Exchange Network, powered by the Velo Protocol. The Velo Protocol is a financial protocol that issues digital credits pegged to any fiat currency, and ensures that these digital credits are always collateralized by the right amount of VELO tokens to maintain a 1:1 digital credit to fiat currency value ratio. Backed by Stellar Network and CP Group, Velo Labs is currently serving business partners in Southeast Asia. By connecting the legacy finance, CeFi and DeFi industries, Velo Labs’ Federated Credit Exchange Network positions Velo Labs as one of few blockchain projects with a clear path towards mass adoption.

www.velo.org

About Lightnet Group

Lightnet Pte. Ltd. is a Singapore-headquartered fintech company with the purpose of empowering underbanked populations and MSME trade finance with an inclusive international remittance ecosystem. The Lightnet Group adopts the Velo Protocol as its blockchain protocol and positions itself as the next generation clearing and settlement network across the Asia Pacific region by leveraging blockchain and connecting existing financial systems with its network of cash agents and wallets. The Lightnet Group’s initial focus will be on Southeast Asia remittances which it estimates to be in excess of USD 150 billion per annum.

www.lightnet.io

Velo实验室、 Lightnet 集团和Visa将在亚洲共同开发支付解决方案

新加坡,2020年11月30日 – Velo实验室(Velo Labs)宣布与Lightnet 集团(Lightnet Pte. Ltd.) 和Visa全球(Visa Worldwide Pte. Limited)达成合作,共同开发亚洲支付解决方案。

  • Velo实验室、Lightnet集团和Visa全球将在亚洲开发支付解决方案
  • VELO通证将在金融解决方案中作为抵押所用数字资产

在合作生效后,Velo实验室、Lightnet 集团和Visa全球将合作开发支付解决方案,旨在解决亚洲中小微企业(MSME)贷款市场难以获得服务的问题。据国际金融公司(IFC)估计,全球每年有5.2万亿美元的中小微企业贷款问题难以得到解决,其中超过一半的融资缺口存在于亚太地区。

Lightnet集团的副董事长Tridbodi Arunanondchai表示: “我们很高兴能与Velo实验室和Visa全球这样值得信赖的生态伙伴建立合作关系。新获得信贷或缺乏信贷信誉往往会成为实现个人财务目标的阻碍,比如获取创业贷款甚至达成购买汽车的财务目标,我们的愿景是为中小微企业市场的客户提供另一种建立信用和改善财务状况的途径。”

Velo实验室、Lightnet集团和Visa全球的合作伙伴关系允许参与其中的银行、汇款运营商和其他金融服务提供商之间进行近乎实时的全球交易,从而拓展了这三家公司的业务范围。该计划旨在通过存储数字资产作为抵押品,让信用记录不良或不存在信用记录的用户获得信用额度。这种方式非常适合将亚太地区超过10亿没有银行账户和没有银行账户的个人与全球金融体系连接起来,而VELO通证将在金融解决方案中扮演数字资产抵押金的角色。

“此次合作是Velo实验室及其生态合作伙伴为帮助服务不足的中小微企业贷款市场数百万人实现普惠金融目标所不断努力的证明。这也说明了VELO通证作为桥梁资产,实现更大范围、更高层次、更深程度的普惠金融的能力,”Velo实验室董事长Chatchaval Jiaravanon说。

关于Velo实验室

Velo实验室(Velo Labs)的愿景是建立一个由Velo协议(Velo Protocol)赋能的联合信用交易网络。Velo协议是一种金融协议,可以发行与任何法定货币锚定的数字信用,并确保这些数字信用始终由适当数量的VELO通证担保,以保证1:1的数字信用与法定货币价值比率。在恒星网络(Stellar Network)和正大集团(CP Group)的支持下,Velo实验室目前为东南亚的生态合作伙伴提供服务。通过链接传统金融、中心化金融(CeFi)和去中心化金融(DeFi)行业,Velo实验室的联合信用交易网络将Velo Labs定位为少数几个具有明确大规模采用使用场景的区块链项目之一。

www.velo.org

关于Lightnet集团

Lightnet集团是一家总部位于新加坡的金融科技公司,旨在为未充分利用银行业务的人群和中小微企业贸易融资提供一个普惠的国际汇款生态系统。Lightnet集团采用Velo协议作为其区块链协议,通过并利用区块链技术将现有金融系统与其现金代理和钱包网络连接起来,将自身定位为横跨亚太地区的下一代清算和结算网络。Lightnet集团的初心是将重点放在东南亚地区的汇款上,据估计规模每年超过1500亿美元。

www.lightnet.io