Singapore-headquartered fintech firm Lightnet has received a $50 million commitment from LDA Capital to boost payments and the Velo protocol's technology. By parikshitm899
The Singapore-headquartered Lightnet said it will use the funds to boost Web3 and cross-border payments through the Velo protocol, and expand the protocol's technology. The firm has the option to increase the total commitment to up to $100 million over the next three years.
Velo, a protocol developed by Lightnet partner Velo Labs, is focussed on cross-border payments service, specifically in the Asia Pacific region. The protocol lets licensed financial institutions create and exchange Velo digital assets pegged one-to-one with local currency with the native VELO token used to help maintain the peg, according to the
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