Velo Labs, a Stellar-based fintech platform, announced a partnership with Terra to build a next-generation payment system. The team has also partnered with Band Protocol for FX data oracles and Matrixport Cactus for custodial services, advancing its federated credit exchange network for Southeast Asian remittances.
Velo Labs, backed by Stellar Network and CP Group, has entered a partnership with stablecoin firm Terra to develop a next-generation payment system. This follows recent announcements of collaborations with Band Protocol for secure FX data oracles and Matrixport Cactus for custodial services. The Velo Protocol issues digital credits pegged to fiat currencies, collateralized by VELO tokens to maintain a 1:1 ratio. The platform targets Southeast Asia's underbanked population through an inclusive international remittance ecosystem, positioning Velo Labs as a blockchain project pursuing decentralized yet permissioned infrastructure for regulatory compliance and mass adoption.