Velo Labs, TEMPO Payments, and Bitazza open up a $17Bn remittance corridor between Europe and Thailand with the Stellar blockchain
SAN FRANCISCO, PARIS and BANGKOK, August 10, 2021 /CNW/ -- Velo Labs, TEMPO Payments, and Bitazza Thailand have opened up a remittance corridor between 27 countries in the EU region and Thailand. The cross-border transactions leverage the Velo Protocol, Velo tokens, and Velo digital credits, which are one of the most compliance-friendly and price-stable virtual assets. Plus each transaction settles in seconds, thanks to the speed of the Stellar blockchain . Through this partnership with Velo Labs, TEMPO Payments and Bitazza, both licensed financial institutions, are leading the way in revolutionizing international payments by connecting the ASEAN and EU markets, representing about $17 billion and nearly 600 million customers. Today's financial systems make it slow and costly to send money around the world. The 3 companies are focused on improving these inefficiencies by relying on their respective networks and Velo Labs' decentralized technology and offering fast,...