Velo Labs , TEMPO Payments and Bitazza Thailand have established a remittance corridor between 27 countries in the EU region and Thailand.
Cross-border transactions take advantage of the Velo protocol, Velo tokens and Velo digital credits, which are one of the most compliance-friendly virtual assets at a stable price. Plus, each transaction is settled in seconds, thanks to Stellar’s blockchain speed. Through this partnership with Velo Labs , TEMPO Payments and Bitazza, two licensed financial institutions, are leading a revolution in international payments by connecting the ASEAN and EU markets, representing nearly 17 billion dollars and nearly 600 million dollars. customers.
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The current financial system makes it slow and expensive to remit money to the rest of the world. The three companies are focused on ameliorating these inefficiencies, relying on their respective networks and Velo Labs’ decentralized technology and offering fast, low-cost and secure ways to remit money between Europe and Thailand.
Regarding this historic transaction, Velo Labs CEO Mike Kennedy commented:
“What we launch today is a validation of our core mission: to build a global, decentralized and interoperable network that will allow businesses and individuals to securely and instantly transfer value across the world. Velo Labs aims to make international transactions faster, economic and reliable for all; this first step puts us on the path to that reality.”
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Regarding this offer, the CEO of TEMPO Payments Suren Ayriyan commented:
“This is just the beginning of our vision to serve millions of people in Asia and beyond. We look forward to continuing to work with Velo Labs to exponentially increase our currency corridors and offerings by providing cost-effective, secure, and international money remittances. for all TEMPO Payments customers, existing and new.
Kevin Heng , director of strategy at Bitazza, said:
“Bitazza is pleased to work closely with Velo and TEMPO Payments to help facilitate the launch of this remittance corridor from Europe to Thailand. This program will help to improve and raise the standard of financial inclusion and mobility for millions of users around the world, and it’s another step forward in our shared commitment to fundamentally change the global remittance industry and leverage Thailand/Southeast Asia as the global frontier for next-generation financial innovation.”
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