September 18, 2024
Velo Labs has received a second strategic investment from UOB Venture Management (UOBVM), the venture capital arm of United Overseas Bank (UOB). This ongoing investment underscores UOBVM’s strong confidence in Velo Labs’ potential to transform the financial ecosystem. Recently, Velo Labs integrated BlackRock’s tokenized short-term Treasury Fund (BUIDL) into its platform through Securitize’s bond-backed instruments, further solidifying its leadership in blockchain-powered financial solutions with its advanced “Web3+” technology. UOB, a major financial institution in Asia, has a market capitalization of around SGD 54 billion and manages over SGD 500 billion in assets as of September 2024.
Project | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|
Velo Labs | September 18, 2024 | Strategic Investment | UOB Venture Management | DeFi |
UOBVM’s continued support highlights the promising future of the blockchain sector, with Velo positioned as a leader, especially in cross-border payments and real-time multi-asset trading via platforms like Universe.
Velo’s Web3+ ecosystem innovatively merges blockchain technology with regulatory compliance, aiming to bring real-world financial activities onto the blockchain. This creates new opportunities for better asset management, global financial connectivity, and enhanced payment infrastructure. The new funding will help expand these offerings, pushing forward Velo Labs’ vision for seamless and borderless financial solutions across Southeast Asia. The integration of BlackRock’s BUIDL fund enhances this ecosystem by offering yield-enhanced solutions to over 1 million users in the region.
According to Velo Labs’ management, the continued support from UOBVM and the integration of BlackRock’s tokenized products mark a significant new phase for the company. They are combining top financial technologies to create a truly interconnected ecosystem, with plans to revolutionize global financial transactions.
About Velo
Velo Labs is a company focused on creating a decentralized financial ecosystem that leverages blockchain technology. Their platform, known as Web3+, aims to make financial transactions faster, cheaper, and more accessible by eliminating the need for traditional intermediaries like banks. Velo Labs offers a range of financial products and services, including the ability to transfer, invest, borrow, or lend funds globally. They also provide innovative solutions like fractional transactions and a seamless integration with traditional finance networks, making it easier for users to manage their assets and conduct transactions across borders.
Website: https://velo.org/
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About Investor
Investor: UOB Venture Management
UOB Venture Management (UOBVM) is the venture capital and private equity arm of United Overseas Bank (UOB). Founded in 1992 and based in Singapore, UOBVM focuses on investing in privately held companies across various sectors, including consumer goods, healthcare, technology, and renewable energy. The firm primarily targets investments in Southeast Asia and Greater China, aiming to support the growth and development of innovative businesses in these regions.
Location: Singapore
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