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.
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.
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.
The partnership with Lightnet and Visa garnered plenty of attention across the industry. Various media outlets reported on the news including:
- In English: more than 95 outlets including Yahoo Finance, Tech in Asia, and Finews.Asia;
- In Chinese, more than 8 top crypto media outlets including Chainnews, Cointelegraph China, Jinse Finance, Odaily, Mars Finance; and
- In Korean, several top KOLs and medias including Naver (here and here) and Wowtv.
In addition to the Lightnet and Visa partnership, the following media reports are also worth reading to stay abreast of the latest developments: