Velo Labs
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Velo Labs

Velo Labs November Updates (11.16–11.30)

As the end of the year is nearing, the Velo Labs team is taking a good honest look at their accomplishments in 2020. Part of this process involves updating the community on every item stated for 2020 in the Velo Labs development roadmap. In the meantime, the Velo Labs team continues to push forward their efforts to develop their Federated Credit Exchange Network. Here are some highlights from the second half of November.

Ecosystem Updates

On November 30th, Velo Labs Technology Ltd. (Velo Labs) announced a collaboration with Lightnet Pte. Ltd. (Lightnet Group) and Visa Worldwide Pte. Limited (Visa) to jointly develop payment solutions in Asia. This collaboration aims at addressing the under-served micro, small and medium enterprise (MSME) lending market in Asia. VELO tokens will serve as the digital asset collateralizing financial solutions stemming from this collaboration. 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. For more details, please read the official announcement.

Developer Updates

During the second half of November, the Velo Labs team continued the development of the Federated Credit Exchange Network.

On November 20th, Velo’s developer community also hosted its first Tech AMA discussing the latest developments in the DeFi space. Guest panelists included participants from Huobi DeFi Labs, DoDo, Tops and DerivaDex.

Community Updates

As Velo Labs officially announced its partnership with Visa to develop payment solutions. Announcements were issued in three languages including Chinese, Korean, and English.

The partnership with Lightnet and Visa garnered plenty of attention across the industry. Various media outlets reported on the news including:

In addition to the Lightnet and Visa partnership, the following media reports are also worth reading to stay abreast of the latest developments:

  1. “Terra Joins the Federated Credit Exchange Network” in English, Korean and Chinese;
  2. Velo Powering the World’s Premiere Federated Credit Exchange Network” in The Block Crypto;
  3. Velo Labs mentioned in 3 Korean Media outlets including Paxnetnews, Naver KOL blog, Newsbrite.

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Velo Protocol

A blockchain financial protocol enabling digital credit issuance and borderless asset transfers for businesses using a smart contract system