Velo, a pioneering blockchain technology provider, has revealed its planned integration with Lightnet, a FinTech group that provides infrastructure for cross-border money transfers using blockchain-based networks. As per details, Velo is set to be done with this integration by the Q4 of 2025, cementing its role as the FX core for real-time cross-border payments. This landmark alliance aims to provide a smooth way for transferring payments across borders by empowering FX Core.
Velo Protocol is also a well-financial protocol based on blockchain, which builds a decentralized credit exchange network and uses it to issue digital credits and distribute assets across the globe. Simultaneously, its alliance with Lightnet makes real-time cross-border payments easier and effective. Velo has revealed this news through its official X account.
Velo and Lightnet Establish New Era of Cross-Border Banking in Asia
This integration results in the development of Asia’s first blockchain-native settlement bank, which will facilitate its users by providing 24/7 currency exchange services. Furthermore, the platform ensures fast, more transparent, and accepted for cross-border transactions. This system is built on Web3 infrastructure that works in a different way than traditional methods, which are slower, less efficient, and rely on legacy rails such as SWIFT.
So, this step makes a unique standard for digital financial infrastructure in Asia, and makes blockchain the only mainstream solution for settlement and FX in the region. FX serves as a strong backbone of the network and enables connecting multiple blockchains like Ethereum and BNB.
Velo and Lightnet to Forge a New Standard in Global Payments Infrastructure
This digital financial system of Velo and Lightnet will challenge the traditional real-time and blockchain-based cross-border banking. This integration will prove to be a golden opportunity for Southeast Asia, which is able to settle in seconds rather than in days, as in the traditional system. Eventually, this will lower the cost, with full-time regulatory and real-time liquidity.
In a nutshell, both Velo and Lightnet platforms will shake the traditional banking setup with these interesting innovations. At the same time, both platforms do not forget about the security and privacy of cross-border transaction histories.
