Velo, Lightnet, and OpenEden form joint venture for Treasury-as-a-Service
Three firms launch a Treasury-as-a-Service platform and regional settlement network for Asia's stablecoins and cross-border payments.
Velo Protocol and Lightnet Group announced the next phase of their joint venture relationship with OpenEden, a leading provider of tokenized U.S. Treasury Bills (TBILL). Together, the three parties are advancing beyond foundational reserves to deliver a full-suite Treasury-as-a-Service (TaaS) platform and a regional settlement network designed to power stablecoin issuance, cross-border payments, and institutional-grade financial services throughout Asia.
OpenEden's TBILL, the first tokenized U.S. Treasury Bill product to earn an "A" rating from Moody's and a "AA+" rating from S&P, provides the secure and liquid foundation for this new infrastructure, built to support large-scale settlement activity and unlock compliant digital finance opportunities.
Treasury-as-a-Service
Launched in Q4 2024, the Treasury-as-a-Service platform gives enterprises, DAOs, and Web3 treasuries direct access to tokenized U.S. Treasuries. This service establishes a new standard for on-chain treasury management, offering a compliant, transparent, and yield-bearing reserve solution that bridges traditional finance and blockchain.
Building ASEAN's settlement infrastructure
The joint venture focuses on building a comprehensive, future-proof settlement network for financial institutions, fintechs, and enterprises across the ASEAN region. The platform enables:
- Fiat-backed stablecoins in USD, THB, PHP, IDR, SGD, and HKD, issued compliantly to serve as settlement tokens.
- Real-time cross-border payments and remittances for MTOs, merchants, and institutional partners, with initial rollout prioritizing Singapore, Thailand, the Philippines, and Indonesia.
- Secure custodial and treasury solutions delivered via licensed providers, ensuring regulatory compliance.
- Liquidity, FX conversion, and hedging tools accessible through both DeFi and traditional financial rails.
Delivered through a modular API stack, the infrastructure is designed for seamless integration by banks, fintechs, and merchant platforms, bringing blockchain efficiency to established financial operations.