Velo(VELO)

Overview

Velo (VELO) is a blockchain financial protocol developed by Velo Labs, designed around a federated credit exchange network that supports digital credit issuance and borderless asset transfers for businesses. Through a smart contract layer, the Velo Protocol allows partners to issue collateral-backed digital credits that can correspond to fiat currencies.

Transactions on the network are processed and settled using the Stellar Consensus Protocol. The project states that its core mission is to let partners transfer value between each other in a timely, secure and transparent manner, with business use cases such as cross-border transfers and settlement built on top of this collateral-backed credit issuance function.