Velo Labs and FinClusive Announce Partnership to Streamline Cross-Border Payments with Financial Crimes Compliance
Partnership
Velo Labs and FinClusive are announcing a strategic partnership to make cross-border payments faster, cheaper, and more inclusive by leveraging blockchain technology with embedded financial crimes compliance (FCC) controls. Velo Labs is recognized for its expertise in helping financial institutions integrate with blockchains to improve their international payments operations.
Partnership will open up new remittance corridors in 2022. Corridors will be relying on the secure, compliance-embedded on- and off- ramp capabilities of FinClusive in the US. As well as the unique solutions developed by Velo Labs. Which is to empower new financial institutions to bridge fiat and digital assets. This will enable an efficient gateway for payments via digital and fiat-based channels. All to support the international remittance and value-transfer needs of individuals and entities across the globe.
Quotes
“We recognize the rapid growth of virtual assets and decentralized networks to facilitate cross-border payments,” said Amit Sharma, CEO and Founder of FinClusive. “Our platform enables bank and nonbank financial services to comport with global standards for AML/FCC and provide a platform for innovative solutions like Velo to seamlessly interact with appropriate risk and compliance controls that connect into traditional banking. We are excited about our joint work!”
Mike Kennedy, CEO of Velo Labs states: “This partnership will bring better remittance services to the market by relying on the low-cost, speed, and scalability of the Stellar blockchain, as well as the growing liquidity and ecosystem of the Binance Smart Chain. Velo and FinClusive working together is another reinforcement of our mission to improve the lives of millions of underbanked and underserved individuals across the globe.”
