Solana Foundation and Velo signed a document establishing a payment mechanism for digital gold trading in Laos

Velo and partner Lightnet said they have signed a memorandum of understanding (MOU) with Solana Foundation for the Laos Digital Gold Project. Accordingly, Solana will be the payment blockchain and Velo will provide payment processing infrastructure for digital gold transactions. This combination will ensure a safe and efficient transaction process through blockchain technology.

Velo is a reliable payment processing protocol responsible for validating and concluding transactions, ensuring full implementation of contractual obligations of buyers and sellers on the Solana blockchain.

The memorandum of understanding between Velo and Solana also includes building a compatible bridge between Solana's blockchain to Nova and other EVM compatible chains. This plan is in line with the current connectivity trends of the blockchain industry, providing unlimited access to a variety of digital assets

The cooperation agreement between the two parties marks a notable development, opening up many trading opportunities, providing liquidity and organizing operations in Web3, meeting the demand for cross-chain transactions and promoting growth. leader for the digital currency ecosystem.

In addition, it requires the establishment of comprehensive liquidity management transactions that can process deposits and withdrawals of fiat currencies and assets on the Solana blockchain, further strengthening the technical framework for transactions. digital assets. The goal of the project will initially be to provide services in Southeast Asia, before going global.

From now on, Velo's Digital Gold will have the opportunity to expand its customer base, opening more access channels for investors looking for a stable and safe value storage tool. Thanks to Solana's technology, the cooperation agreement promises to combine potential investment opportunities in the context of the constantly changing digital asset industry.

About Velo Labs

Velo Labs is a pioneer in providing Web3 financial solutions, providing a liquidity and payment layer for trading activities. With the backing of Stellar Network and CP Group, the project has expanded operations throughout Southeast Asia and the Pacific, with a network of partners spanning the globe. Velo can connect and bridge the gap between the traditional financial industry and Web3, promoting blockchain adoption on a large scale by individuals, businesses and organizations through the project's Orbit payment solution and partner Lightnet . Learn more about Velo Labs here: Twitter / Telegram

Note: This is sponsored content, Coin68 does not directly endorse any information from the above article and does not guarantee the truthfulness of the article. Readers should conduct their own research before making decisions that affect themselves or their business and be willing to take responsibility for their own choices. The above article should not be considered as investment advice