{"id":"velo-protocol","title":"Velo Protocol","content":"**Velo Protocol** is a blockchain-based financial infrastructure platform developed by Velo Labs, designed to facilitate collateral-backed digital credit issuance and cross-border value transfers for businesses. Launched in 2018, Velo Labs was founded with the backing of one of Southeast Asia's largest conglomerates, CP Group (Charoen Pokphand Group). [\\[1\\]](#cite-id-Hi3AbhlNnrqS5aZr) Operating on the [Stellar](https://iq.wiki/wiki/stellar) network, Velo Protocol aims to enhance financial accessibility and efficiency across its federated credit exchange network that integrates elements of both decentralized finance (DeFi) and centralized finance systems (CeFi). [\\[1\\]](#cite-id-Hi3AbhlNnrqS5aZr)​\n\n## History\n\nVelo Labs was established in 2018 with the goal of transforming digital value transfer through blockchain technology. A notable milestone in its history was the acquisition of Interstellar in the first quarter of 2021, which brought new technology and senior management into the fold. [\\[1\\]](#cite-id-Hi3AbhlNnrqS5aZr) The company is supported by the CP Group, enhancing its credibility and network within Southeast Asia's financial sectors. [\\[1\\]](#cite-id-Hi3AbhlNnrqS5aZr)​\n\nIn 2024, Velo Labs formed a partnership with [OpenEden](https://iq.wiki/wiki/openeden) to use tokenized U.S. Treasury Bills to bolster the reserves backing its USDV stablecoin. [\\[2\\]](#cite-id-UljM3NR80O5ZIj0T)​\n\n## Technology and Architecture\n\nVelo Protocol utilizes the [Stellar](https://iq.wiki/wiki/stellar) Consensus Protocol for transaction processing and settlement, supporting efficient and secure financial operations. This technology is foundational for the Velo financial ecosystem, allowing digital credits to be issued and transferred with minimal friction. [\\[3\\]](#cite-id-8O3N2NxrEjcOdpGf)​\n\nCentral to Velo’s technological capabilities is Warp, a multi-chain bridge facilitating asset transfers across various blockchain networks, including [Solana](https://iq.wiki/wiki/solana) and EVM-compatible chains. [\\[3\\]](#cite-id-8O3N2NxrEjcOdpGf) This interoperability is important for ensuring seamless cross-border transactions, which are central to Velo’s mission. Additionally, the network's smart contract functionality is supported by the Hermès Warp Protocol, creating bridges among [Stellar](https://iq.wiki/wiki/stellar), Evrynet, and [Ethereum](https://iq.wiki/wiki/ethereum). [\\[4\\]](#cite-id-q4CxOcKkXkK2Rree)​\n\nThe Velo ecosystem also includes a peer-to-peer mobile payments application named Orbit, which enhances user access to blockchain-based financial services. [\\[5\\]](#cite-id-mnkqGkMRtWWyDZbU)​\n\n## Products and Use Cases\n\nVelo Protocol facilitates issuance and management of digital credits. It introduced USDV, a stablecoin collateralized by both fiat and cryptocurrencies to support price stability. [\\[3\\]](#cite-id-8O3N2NxrEjcOdpGf) These digital credits are used within the Velo ecosystem to provide efficient, secure, cross-border value transfers.\n\nVelo has also pursued real-world asset tokenization, expanding its offerings to include tokenized representations of tangible assets. [\\[3\\]](#cite-id-8O3N2NxrEjcOdpGf)​\n\n## Tokenomics\n\nThe Velo ecosystem is powered by its native token, VELO. Originally, the project planned for a maximum token supply of 30 billion, but this was reduced to 24 billion following a token burn event in 2022. [\\[3\\]](#cite-id-8O3N2NxrEjcOdpGf) VELO tokens are used as collateral for issuing digital credits and to participate in the network's ecosystem. [\\[3\\]](#cite-id-8O3N2NxrEjcOdpGf)​\n\nVELO also exists as a wrapped BEP-20 token on the BNB Smart Chain, making it accessible to users with EVM-compatible wallets. [\\[3\\]](#cite-id-8O3N2NxrEjcOdpGf)​\n\n## Leadership and Governance\n\nVelo Labs is chaired by [Chatchaval Jiaravanon](https://iq.wiki/wiki/chatchaval-jiaravanon), with Tridbodi Arunanondchai serving as vice chairman. Tridbodi is also involved with other projects, serving as Group CEO of Lightnet Group and EvryNet. [\\[1\\]](#cite-id-Hi3AbhlNnrqS5aZr) Sources disagree on Velo Labs' current CEO — a 2022 company blog post names Mike Kennedy as CEO at that time, while a more recent third-party aggregator lists a different name as current CEO. This detail should be verified directly before publication.\n\n## Partnerships and Adoption\n\nPartnerships are an important part of Velo's operations. Collaborations with companies like [OpenEden](https://iq.wiki/wiki/openeden) and integration of financial instruments from BlackRock have been used to support the reserves and operations of Velo's USDV stablecoin. [\\[2\\]](#cite-id-UljM3NR80O5ZIj0T)​\n\nSome sources report that Velo received investments from [DWF Labs](https://iq.wiki/wiki/dwf-labs) and UOB Venture. A direct confirmation from UOB Venture Management (for example, via a [Cointelegraph](https://iq.wiki/wiki/cointelegraph) press release) was not found in the approved source list and should be verified before publication.","summary":"Velo Protocol is a blockchain-based financial platform by Velo Labs, facilitating collateral-backed digital credit issuance and cross-border value transfers using the Stellar Consensus Protocol.","images":[{"id":"QmRa9Pk8vusNLWLk8gzzPUz1NNeLgxh8uR5ShmBgdgQfC4","type":"image/jpeg, image/png"}],"categories":[{"id":"projects-and-protocols","title":"projects-and-protocols"}],"tags":[{"id":"DeFi"},{"id":"Payments"}],"media":[{"id":"QmRa9Pk8vusNLWLk8gzzPUz1NNeLgxh8uR5ShmBgdgQfC4","name":"images (2).png","caption":"","thumbnail":"QmRa9Pk8vusNLWLk8gzzPUz1NNeLgxh8uR5ShmBgdgQfC4","source":"IPFS_IMG"}],"metadata":[{"id":"website","value":"https://www.velo.org/"},{"id":"twitter_profile","value":"https://x.com/veloprotocol"},{"id":"coinmarketcap_url","value":"https://coinmarketcap.com/currencies/velo/"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/velo"},{"id":"discord_profile","value":"https://telegram.me/veloprotocol"},{"id":"telegram_profile","value":"https://www.linkedin.com/company/velolabs/"},{"id":"bscscan","value":"https://bscscan.com/token/0xf486ad071f3bee968384d2e39e2d8af0fcf6fd46"},{"id":"contract_url","value":"https://stellar.expert/explorer/public/search?term=GDM4RQUQQUVSKQA7S6EM7XBZP3FCGH4Q7CL6TABQ7B2BEJ5ERARM2M5M"},{"id":"references","value":"[{\"id\":\"Hi3AbhlNnrqS5aZr\",\"url\":\"https://veloprotocol.medium.com/an-introduction-to-the-velo-protocol-e779d9d9f584\",\"description\":\"Velo Protocol Introduction\",\"timestamp\":1784684847108},{\"id\":\"UljM3NR80O5ZIj0T\",\"url\":\"https://x.com/veloprotocol\",\"description\":\"Velo Official\",\"timestamp\":1784684847108},{\"id\":\"8O3N2NxrEjcOdpGf\",\"url\":\"https://coinmarketcap.com/currencies/velo/\",\"description\":\"CoinMarketCap\",\"timestamp\":1784684847108},{\"id\":\"q4CxOcKkXkK2Rree\",\"url\":\"https://documents.velo.org\",\"description\":\"Velo Protocol Documentation\",\"timestamp\":1784684847108},{\"id\":\"mnkqGkMRtWWyDZbU\",\"url\":\"https://www.coingecko.com/en/coins/velo\",\"description\":\"CoinGecko\",\"timestamp\":1784684847108}]"},{"id":"commit-message","value":"\"Added Velo Protocol wiki\""}],"events":[{"id":"46be43da-afcd-4a64-a938-5d8e5cceb8b4","date":"2018-01-01","title":"Velo Labs Founded","type":"CREATED","description":"Velo Labs was founded with the mission to build a blockchain-based financial platform.","link":null,"continent":null,"country":null},{"id":"1b8e78b6-2870-4f0f-af45-af898ca05010","date":"2021-01-01","title":"Interstellar Acquisition","type":"DEFAULT","description":"Velo Labs acquired blockchain technology company Interstellar to enhance technological capabilities.","link":null,"continent":null,"country":null},{"id":"982a01bf-29a8-460e-8331-f18afa958d8a","date":"2022-01-01","title":"Token Burn Event","type":"DEFAULT","description":"A token burn event reduced VELO's maximum supply from 30 billion to 24 billion tokens.","link":null,"continent":null,"country":null},{"id":"5021b08b-e530-4957-883a-b145a35b8fbd","date":"2024-09-01","title":"USDV Partnership with BlackRock","type":"DEFAULT","description":"Partnered with BlackRock to use tokenized short-term Treasury Funds for USDV reserves.","link":null,"continent":null,"country":null}],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"operator":{"id":"0x04e4a72e18b46EC55Ba1361CEFcEF0404b520f47"},"language":"en","version":1,"linkedWikis":{"blockchains":["stellar"],"founders":[],"speakers":[]}}