Velo Crypto (VELO): Breaking Barriers in Cross-Border Transactions

Global remittance is a multibillion-dollar industry. However, because of the complexities of the money transfer chain from one country to another, the industry still has a low number of money transfer operators (MTOs), making it uncompetitive and fragmented and resulting in high transaction fees.

Moreover, the global digital payment network is flooded with different mediums and systems, complicating the process of confirming and settling payments. Due to the friction of coordinating the different digital payment providers involved in a transaction, completing a digital payment may take days.

But what if there were a way to speed up this process, while simultaneously keeping costs low and transactions secure?

Velo believes it has built an ecosystem to achieve this end. The project is looking to consolidate the financial payment system in Southeast Asia by creating a blockchain-based payment gateway that consists of a widespread network of "Trusted Partners" who can operate in a trustless and frictionless way.

Let’s learn more about how Velo is working to supercharge the velocity of money via web3.