Velo and EvryNet announce a strategic merger to build the future of CeDeFi
Velo Labs is developing a blockchain-based, compliance-focused global settlement network to provide fast, secure, and low-cost cross-border payments to individuals and businesses. As part of their mission to improve financial services, Velo Labs offers financial institutions the ability to transfer value across borders much more efficiently than traditional financial institutions. With partnerships already in place with financial institutions in South East Asia, Europethe United Arab Emirates and AfricaVelo is positioned at the forefront of a new wave of global financial infrastructure.
mike cowansCEO of Velo Labs on this announcement:
“Our mission at Velo Labs has always been to elevate the level of financial inclusion and mobility, and to provide products that improve access to financial infrastructure. This strategic merger with EvryNet, which shares similar goals, will only that strengthen our commitment to this mission, while opening up exciting opportunities for future growth in decentralized finance. We are excited about what the future holds.”
EvryNet allows CeFi to enter the DeFi world. EvryNet’s decentralized applications open up a world of new assets, investment opportunities and innovative strategies for investors. Simultaneously, EvryNet gives DeFi projects exposure to a broader ecosystem of investors to create a buffer for growth.
Korapat Arunanondchaiproject manager at EvryNet:
“Evry and Velo’s cutting-edge technology is a powerful blend and we look forward to marrying the best of centralized and decentralized financial technology. With our combined talents, we are confident that this merger will position the new Velo as a forerunner in CeDeFi.”
Bringing the Velo and Evry teams together has significant advantages for both projects. The EvryNet The team brings in-depth crypto-specific knowledge that will enhance Velo’s combined product offering and business focus and the Velo team’s access to institutional partners will aid in the creation of a true CeDeFi ecosystem – a central objective for both teams and what they believe to be the future of finance.
SOURCE Velo Labs