Velo Labs , TEMPO Payments and Bitazza Thailand have opened a money transfer corridor between 27 EU countries and Thailand.
Cross-border transactions are carried out using the Velo protocol, Velo tokens and Velo digital credits, which are among the most favorable and stable virtual assets in terms of price. In addition, every transaction is completed in a matter of seconds thanks to the speed of the Stellar blockchain. Through its partnership with Velo Labs , licensed financial institutions TEMPO Payments and Bitazza are spearheading a revolution in international payments, bringing together the ASEAN and EU markets, which account for approximately US $ 17 billion and approximately 600 million customers.
The modern financial system makes it slow and costly to send money around the world. The three companies have focused on addressing these shortcomings by relying on their respective networks and Velo Labs’ decentralized technology , and offering fast, cost-effective and reliable ways to send funds between Europe and Thailand.
Due to this historic deal CEO Velo Labs Mike Kennedy ( Officers Mike Kennedy ) stated the following:
“The process we launched today is a confirmation of our main strategic goal of creating a global, decentralized and interoperable network that will allow businesses and individuals to transfer funds safely and instantly around the world. The company Velo Labs wants to make cross-border transactions faster, cheaper and safer for everyone, and this is our first step towards this reality. ”
CEO Suren Hayriyan TEMPO Payments ( Suren Ayriyan ) described the proposal as follows:
“This is just the beginning of our vision of serving millions of people in Asia and beyond. We look forward to working with Velo Labs to exponentially expand our currency corridors and offerings, providing cheap, secure and fast money transfers to all existing and new TEMPO Payments customers around the world.
Chief Strategy Officer of Bitazza Kevin Heng ( by Kevin Heng ) said:
“Bitazza is delighted to partner with Velo and TEMPO Payments to help launch this remittance corridor between Europe and Thailand. This program will help improve and enhance the standards of accessibility and mobility of financial services for millions of users around the world, and will also mark another step forward in realizing our shared commitment to revolutionize the global money transfer industry and transform Thailand / Southeast Asia into a global frontier. for the introduction of innovative financial technologies of a new generation ”.