Velo Labs' partners Lightnet Group and SEBA Bank completed the first live transaction on the Federated Credit Exchange Network (FCX), exchanging vUSD and vCHF digital credits pegged to fiat currencies using VELO tokens as collateral and settlement.
Velo Labs announced the first successful live transaction on its Federated Credit Exchange Network (FCX), executed between Lightnet Group and SEBA Bank. The transaction used digital credits pegged to fiat currencies: vUSD (US Dollar) and vCHF (Swiss Franc), with VELO tokens serving as universal collateral and settlement asset. The FCX is a distributed network combining DeFi efficiencies with CeFi and legacy finance standards, using the Stellar Consensus Protocol for transaction confirmation. This milestone demonstrates Velo Labs' path toward mass adoption by aggregating liquidity across traditional finance, centralized finance, and decentralized finance ecosystems.