The future of
cross-border payments

Our core product is a global, decentralized, and interoperable payments network that allows partners — businesses and individuals alike — to instantly transfer value across the globe, via an easy-to-use, secure and compliant system.

WHITEPAPER

The problem we're addressing

Many aspects of today’s financial services are based on outdated, slow, legacy systems, making it slow and expensive to move money around the world.

Velo solutions, leveraging blockchain technology, will significantly improve international payments, delivering faster, cheaper and more secure payments to millions worldwide.  We are creating a future where global remittance is cheap, available to anyone and takes minutes, not days.

Our technology has the potential to improve the lives of millions of people around the world, by empowering the businesses that serve them with the future of remittance technology.

Introducing the Velo Protocol

The Velo Protocol allows licensed financial institutions to create and exchange Velo digital assets pegged 1:1 to any local currency, and backed by VELO tokens, which act as a secondary guarantee to ensure settlement of all fiat deposits in the network.

Businesses leveraging Velo digital credits can move value freely and efficiently, cross-chain and cross-border, in and out of any currency.

The Velo Protocol Components

Velo Anchors

Velo Anchors are regulated financial institutions, that bridge the gap between traditional payments networks and the Velo Protocol

Digital Credit Issuance Mechanism

The Digital Credit Issuance mechanism allows any vetted business on the network to receive digital credits by posting VELO tokens to the Velo Protocol.

Digital Reserve System

The Digital Reserve System is a smart contract rule set that algorithmically manages VELO token collateral pools, ensuring a 1:1 backing via a rebalancing mechanism.

How does it work?

Alice needs to send some funds to her friend, Bob, in the Philippines. She starts by sending EUR to a European Velo Anchor. 
The EU Velo Anchor convert Alice’s fiat 1:1 into a digital asset, vEUR
This vEUR can then be exchanged at market rate for any digital currency through the Velo ecosystem (in this example vPHP) and sent across borders via the Stellar blockchain in 5 seconds or less. 
Once received in the destination country, the vPHP is then converted back 1:1 to the local fiat by a local Filipino Velo Anchor. 
Bob receives fiat PHP as soon as his local Velo Anchor transfers them to his bank account.
Alice needs to send some funds to her friend, Bob, in the Philippines. She starts by sending EUR to a European Velo Anchor. 
The EU Velo Anchor convert Alice’s fiat 1:1 into a digital asset, vEUR
This vEUR can then be exchanged at market rate for any digital currency through the Velo ecosystem (in this example vPHP) and sent across borders via the Stellar blockchain in 5 seconds or less. 
Once received in the destination country, the vPHP is then converted back 1:1 to the local fiat by a local Filipino Velo Anchor. 
Bob receives fiat PHP as soon as his local Velo Anchor transfers them to his bank account.

The Benefits of the Velo Protocol

Faster

Blockchain technology allows for instant settlements between fiat to fiat when local payments rails allow it. Built on the reliable Stellar Network

Cheaper

Low integration and maintenance costs thanks to our modern technology and low overhead

Secure

Enterprise-grade security that complies with industry standards end-to-end with proven scalability (blockchain with over 1Bn transaction a year)

Liquid

Multiple liquidity sources for better rates and negating the need for pre-funding requirements

We're raising the standard of financial inclusion & mobility

Interested in partnering with Velo?

If you're a bank, credit union, money service business, crypto-exchange or licensed fintech company, the Velo Network can supercharge your customer experience and dramatically improve your cost-to-serve.

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