Velo (VELO)USD

Velo is a blockchain-based financial protocol designed to let regulated partners issue collateral-backed digital credits and process cross-border payments, with an initial focus on connecting traditional finance and Web3 in Asia. Velo Labs, the company behind the protocol, was founded in 2020 by Chatchaval Jiaravanon and Tridbodi Arunanondchai. The VELO token launched in 2020 and was initially issued on the Stellar blockchain, which uses the Stellar Consensus Protocol, a federated Byzantine agreement-style mechanism, for fast and low-cost payments. The Velo Protocol is a smart-contract-based system built on top of Stellar and has since been extended to EVM-compatible chains for broader settlement and credit issuance. The native utility token, VELO, is used as collateral backing digital credits pegged one-to-one to fiat currencies, as a settlement asset for value transfers, for staking to participate in the network, and for governance through VeloDAO. Financial institutions and business partners use the protocol to issue fiat-pegged digital credits guaranteed by VELO held in reserve, enabling cross-border payments and remittances. VELO has a fixed total supply of 24 billion tokens, making it a capped-supply asset rather than an inflationary one.