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Velo Labs’ Utility Token now available on leading global digital asset provider, Huobi

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Velo Labs, a leading blockchain infrastructure company focused on improving international remittances, has announced another successful listing of their utility token, $VELO, on the leading global digital asset financial service provider, Huobi.

Velo Labs is developing a blockchain-based global settlement network to allow for fast, secure and low cost cross-border payments to both individuals and businesses. As part of their mission to improve financial services, Velo Labs provides institutions with the ability to transfer value across borders more efficiently versus traditional mechanisms. The process involves issuing digital credits pegged to a local fiat currency, which are collateralized by the VELO token, ensuring a 1:1 value ratio between the digital credits and the underlying fiat currency is maintained.

It enables Velo Labs to provide an efficient way of transacting value using digital credits without the risk of volatility that is a concern with other digital asset protocols.

CMO of Velo LabsMark Fisheron this listing: “Our utility token plays a critical role in the success of our global settlement network, and increasing the availability of the VELO token worldwide has always been a core focus for our team. We are excited to be partnering with Huobi for this listing, and looking forward to educating the Huobi community on the benefits of our project.”

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Daily Crypto News: BlockchainReporter Empowers Crypto Enthusiasts and Traders with Critical Information to Make Informed Decisions

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Alpha Sigma Capital Research Releases May Report on ASC AI Index

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Blockchain

Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet

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Squad Labs announced that its Series A funding round, led by Electric Capital with participation from RockawayX, Coinbase Ventures, L1D, Placeholder, and Mert Mumtaz, will propel the launch of its Fuse smart wallet. The company aims to establish Fuse as a premier solution for securing and compounding personal digital wealth amid the growing onchain economy.

According to the company’s news release on June 12, smart accounts and smart wallets are gaining traction across blockchains as they offer a more intuitive, secure, and programmable user experience. Fuse abstracts seed phrases and provides features like wallet recovery, 2FA capabilities, and enterprise-level security for personal custody, simplifying the choice of storing digital wealth on-chain.

In addition to securing funding, Squad Labs also announced the public testing launch of Fuse on iOS. This move is part of their strategy to expand accessibility and refine functionality ahead of a full market release.

Meanwhile, a recent report from PYMNTS Intelligence explores blockchain’s role in enhancing cross-border payments. It suggests that integrating blockchain can streamline payment processing, enable digital-to-fiat currency conversion, and introduce stablecoins for faster and cost-effective cross-border transactions. Business-friendly decentralized finance (DeFi) solutions further automate and secure transactions via smart contracts, reducing dependence on traditional payment systems and enhancing security and transparency.

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The report underscores the significance of educating businesses and end-users about the benefits of blockchain-based cross-border payments. It advocates for partnerships with FinTechs and proactive engagement with financial institutions to drive adoption and improve industry-wide support for blockchain technologies in payments.

Overall, Squad Labs’ funding round and Fuse’s development represent strategic advancements in blockchain technology aimed at enhancing digital wealth management and transforming cross-border payment landscapes.

Source: pymnts.com

The post Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet appeared first on HIPTHER Alerts.

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