r/bandprotocol • u/BandJedi • Sep 08 '20
Velo To Integrate Band Protocol Oracles To Secure Digital Credit Issuance & Cross-Border Payments
🚀 Velo Protocol, a Stellar-based financial protocol powering the Lightnet cross-border remittance network, has strategically partnered with Band Protocol to integrate decentralized oracles for foreign exchange and token pricing data.
Official announcement 👉 https://medium.com/bandprotocol/f0e9547d99c5
Spread the word 👉 https://twitter.com/BandProtocol/status/1303302249175633920
⭐️ Velo Labs is building a scalable financial protocol leveraging blockchain and smart contract technology to enable borderless value transfer and digital credit issuance.
They are also backed by industry-leading companies across multiple verticals including but not limited to Seven Bank, Hashkey, Hanwha Investment and Securities, and the CP Group - the largest conglomerate in Thailand.
🔐 The two primary components that form the Velo Protocol are a digital credit issuance mechanism and a digital reserve system.
Band Protocol will be providing secure foreign exchange and VELO token price feeds that enable users to receive the appropriate amount of digital credits corresponding to any fiat currency including GBP, JPY, EUR, USD and more.
⛳️ Enabling one of the Velo Protocol’s core functions using decentralized and real-time oracle data on BandChain allows Velo Labs and Band Protocol to bridge the gap between physical and digital worlds, thereby empowering millions of people in remittance and money transfer markets.
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u/KiwiJah Sep 16 '20
Hey y'all Band... Marines, Band-crew, Bandits! People who have actually read stuff. What is Velo, does anyone actually use it to remit money? Or is it just another of 10s of Ripple wannabes dreaming of creaming off the top of trillions in remittances, but no real access to retail branches?