September 10, 2024 – Velo Labs, a global pioneer in Web3-based financial solutions, announced that the assets backing its USDV stablecoin are now comprised of an investment in BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), tokenized by Securitize.

USDV serves as the primary store of value and unit of transfer across Velo's suite of payment and trading applications.

USDV Adoption Across Southeast Asia

Over 1 million users and vendors on Velo's Orbit payment app in Southeast Asia leverage USDV for:

• Seamless transactions
• Value storage without a bank account
• Cross-border money transfers
• 24/7 off-ramping to local currencies at local banks
• On-chain yield earning opportunities

Additionally, traders in FX, commodities, and crypto on Velo’s Universe exchange and Velo Finance DeFi protocol can earn yield on funds held on the exchange and boost returns through liquidity pools and staking programs.

Strategic Growth and Real-World Asset Tokenization

This announcement follows Velo’s recent partnership with the Laos government to tokenize its physical gold reserves. With this, Velo is solidifying its position as a leading provider of blockchain-powered payments, trading, and real-world asset (RWA) offerings across Asia.

Leadership Commentary

Chatchaval Jiaravanon, Co-Chairman of Velo Labs, commented:
“Velo Labs is very pleased to bring BlackRock's high-quality institutional yield product to Southeast Asia. At Velo, we are building the bridges and rails that will ensure frictionless, borderless, and formless payment and trading experiences for both institutional and retail users across Asia. Today's announcement demonstrates our commitment to bringing Velo users access to the highest-quality institutional assets in the world.”

Jamie Finn, Co-Founder and President of Securitize, added:
“This is a great example of a firm leveraging open Web3 standards to deliver a product to their market.”

About Velo Labs

Velo Labs is a global pioneer in Web3-based financial solutions, offering a cutting-edge liquidity and settlement network for secure, efficient value transfers. Backed by the Stellar Network, its reach has expanded beyond Southeast Asia and the Pacific, now serving partners worldwide. The company connects the gap between traditional banking infrastructure and Web3, helping drive blockchain mass adoption. Velo offers a diverse range of Web3-based products tailored for individuals, merchants, corporations, and enterprises — empowering global financial connectivity and accessibility.

Follow Velo Labs for more info: Twitter / Telegram

About Securitize

Securitize is the leader in tokenizing real-world assets, driving compliant digitization of financial assets through next-generation blockchain technology. Through its subsidiaries, Securitize is a registered broker-dealer (member FINRA/SIPC) and operates a primary marketplace, an alternative trading system, a top 10 transfer agent, and has an exempt reporting adviser.

Learn more: securitize.io