Singapore, September 18, 2024 – Velo Labs has secured a second strategic investment from UOB Venture Management (UOBVM), the private equity and venture capital subsidiary of United Overseas Bank (UOB). This continued investment signals UOBVM’s firm belief in Velo Labs' transformative potential within the financial ecosystem, especially as Velo Labs recently integrated BlackRock’s tokenized short-term Treasury Fund (BUIDL), facilitated through Securitize’s bond-backed instruments, into its ecosystem. Together, these developments reinforce Velo’s leadership in revolutionizing blockchain-powered financial solutions with their cutting-edge "Web3+" technology.
As one of Asia’s leading financial institutions, UOB boasts a market capitalization of approximately SGD 54 billion (as of September 2024) and manages over SGD 500 billion in total assets. UOB Venture Management’s ongoing support for Velo Labs highlights the potential of the rapidly evolving blockchain sector, with Velo positioned as a leader in this space, particularly in cross-border payments and real-time multi-asset trading through platforms like Universe.
Velo’s Web3+ ecosystem offers an innovative approach to decentralized finance, seamlessly combining the efficiencies of blockchain technology with regulatory compliance. This ecosystem is designed to onboard real-world financial activities to the blockchain, creating new opportunities for enhanced asset management, global financial connectivity, and improved payment infrastructure. The fresh funding will drive the expansion of these offerings, further accelerating Velo Labs' vision for frictionless and borderless financial solutions across Southeast Asia. The integration of BlackRock’s BUIDL fund further strengthens this ecosystem by providing seamless, yield-enhanced solutions for over 1 million users in Southeast Asia.
"The continued support from UOB Venture Management, combined with the recent integration of BlackRock’s tokenized products, marks an exciting new phase for Velo Labs," said the management team of Velo Labs. "We are bringing together the best financial technologies to create a truly interconnected ecosystem, and this is just the beginning. With these resources and strategic support, we’re poised to reshape how financial transactions happen globally."
About Velo Labs
Velo Labs is a global pioneer in Web3-based financial solutions, offering a cutting-edge liquidity and settlement network for secure, efficient value transfers. Backed by the Stellar Network, our reach has expanded beyond Southeast Asia and the Pacific, now serving partners worldwide. We connect and complement the gap between traditional banking infrastructure and Web3, leading the way in blockchain mass adoption. Our extensive Web3-based payment network positions us as a global heavyweight. Velo Labs offers a diverse range of Web3-based products tailored for individuals, merchants, corporations, and enterprises worldwide — dedicated to empowering global financial connectivity and expanding accessibility globally.
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About UOB Venture Management
UOB Venture Management is a subsidiary of United Overseas Bank Limited (UOB) and a leading private equity and venture capital firm in Southeast Asia. UOB Venture Management focuses on supporting high-growth companies in various sectors, including financial technology, healthcare, and education, by providing capital and strategic support.
For more information, visit UOB Venture Management.