Velo Labs, a financial technology firm utilising blockchain technology to establish a compliance-first financial system, has secured $10m in its latest financing round.
The firm’s mission is to enhance the global movement of assets and promote the mainstream adoption of digital assets.
The new capital comes from a funding round led by global digital asset market maker and multi-stage Web3 investment firm, DWF Labs. The investment is set to bolster the growth of Velo Labs’ groundbreaking “Web3+” financial ecosystem, which facilitates trustless, formless, borderless, and limitless global assets movement.
Velo Labs is creating a unique “Web3+” financial ecosystem by blending Web 3.0 products with a compliance-friendly approach. This revolutionary ecosystem aims to become the backbone infrastructure for transferring the current global economic activities onto the blockchain. Initial offerings include multi-asset trading on Universe, and the anticipated launch of a crypto payment super-app, Orbit.
The fresh funding will be directed towards Velo Labs’ objective to connect businesses and individuals to a global pool of funds, thus enhancing the velocity of money worldwide. This capital infusion is expected to fast-track the development of innovative core products, alongside auxiliary services, and facilitate expansion of global partnerships.
“We’re thrilled about this collaboration and appreciate the support from DWF Labs in recognising the immense potential of our Web3+ ecosystem. This partnership will play a crucial role in enhancing the seamless global movement of assets.
“With the long-term financial support pledged, we plan to expand our ecosystem and drive the growth of our VStablecoins by developing innovative core products, as well as other auxiliary services, and expanding global partnership,” Tridbodi Arunanondchai, vice president of Velo Labs Technology Inc., shared.
Andrei Grachev, managing partner of DWF Labs, echoed this sentiment. “We’re thrilled to lead the round for Velo Labs, one of the fastest-growing communities in Southeast Asia, and to support their vision of building an innovative Web 3+ ecosystem. With the launch of Universe and the ongoing development of Orbit, we look forward to seeing Velo Labs Technology Inc.’s continued success in the asset-oriented smart contract space.”
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