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Information about Velo (VELO)
Velo's core product is a global, decentralized, and interoperable payments network that allows partners — businesses and individuals alike — to instantly transfer value across the globe, via an easy-to-use, secure and compliant system. International payments today use outdated technology and infrastructure that has made it expensive and slow to move money around the world. This problem is particularly apparent in developing countries, where there is a lack of liquidity for the domestic currencies on foreign exchange markets. Velo solutions, leveraging blockchain technology, will significantly improve international payments, delivering faster, cheaper and more secure payments to millions worldwide.
The Velo Protocol allows licensed financial institutions to create and exchange Velo digital assets pegged 1:1 to any local currency, and backed by VELO tokens, which act as a secondary guarantee to ensure settlement of all fiat deposits in the network. Businesses leveraging Velo digital credits can move value freely and efficiently, cross-chain and cross-border, in and out of any currency.
VELO is a native token of the Velo ecosystem, operating on Stellar blockchain and can be used to:
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Quick reaction led to profit: The trader invested 100 ETH, approximately 389,000 USD, to purchase 2.45 million VELO tokens, taking advantage of the price surge from 0.158 USD to 0.342 USD after the announcement.
Impact of centralized exchanges: The Binance listing illustrates how centralized exchanges significantly influence token valuations, creating opportunities for traders who act promptly on such announcements.
Orbit by Velo Labs provides cryptocurrency payment solutions to over 100,000 merchants
Velo, one of the many pioneers in Blockchain-Based Web3 Finance, announced its groundbreaking product, Orbit.
Orbit is an innovative platform providing a simple, secure, and quick payment solution that bridges the gap between Web3 and Web2, all powered by Velo.
Lightnet Group lands $50 million to help scale Velo blockchain protocol
Global investment firm LDA Capital has committed $50 million to Lightnet Group – a blockchain financial technology startup, to help in building out its infrastructure.
The fund will be used to bolster its Web 3.0 payment and blockchain ledger-based remittance services across Asia and develop the blockchain protocol of one of its tech partners, Velo Labs Technology.
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