Velo, a leading blockchain-based platform to offer financial solutions, has announced a new partnership with Paxos, a renowned tokenization and blockchain infrastructure. The collaboration focuses on establishing a regulatory-compliant and scalable blockchain-based payment platform for worldwide usage. The platform revealed this groundbreaking endeavor on its official social media account.
Velo Joins Forces with Paxos to Offer Secure and Transparent Cross-Border Stablecoin Payments
This initiative brings together the finest capabilities of Velo and Paxos for unparalleled stablecoin payments. As a part of this development, Velo will leverage the trusted infrastructure of Paxos to back the worldwide stablecoin adoption and payments across borders. The partnership underscores a crucial step in fulfilling Velo’s mission, with the provision of secure and transparent payment infrastructure.
Velo considers the partnership with Paxos to be a noteworthy advancement to boost the stablecoin future for real-world use cases. Paxos is entering this collaboration following remarkable partnerships with prominent financial entities. The platform has already been an important contributor to conventional finance by pushing traditional financial entities to start stablecoin operations.
For this purpose, it has been issuing and managing digital dollars while maintaining complete compliance. The notable partnerships of Paxos take into account DBS Bank, Stripe, Mastercard, Standard Chartered, Global Dollar Network, Venmo, and PayPal. With these landmark collaborations, Paxos has actively advanced the stablecoin sector across the globe with seamless and convenient operations.
Addressing Contemporary Issues Like Cost, Speed, and Regulatory Compliance
By leveraging the DeFi infrastructure of Velo and institutional collaboration and regulatory expertise of Paxos, the partnership is poised to establish a cutting-edge payment forum. The partnership sis anticipated to expedite the stablecoin deployment for transfers, digital commerce, and remittances across borders at scale. In addition to this, the development also aims to deal with the key challenges existing in the present payment landscape. These issues include cost, speed, and transparency.
According to Velo, along with the infrastructure development, the joint effort will also foster regulatory compliance across diverse jurisdictions. This will guarantee that the payment solutions fulfill the peak standards when it comes to user protection and financial compliance. Hence, both Velo and Paxos are collaborating with policymakers and regulators to enhance confidence in stablecoin technology.
