Velo has announced its collaboration with TrueUSD, the first USD-pegged stablecoin with live on-chain attestations.

Despite Velo's rapid advancements, including numerous releases in January and more on the horizon, the company remains committed to ensuring user security and stability.

This collaboration aligns well with TrueUSD's reputation as a trusted stablecoin, offering a reliable store of value.

1. TUSD as Collateral for USDV:

Velo's stablecoin, USDV, will gain an additional layer of stability by using TUSD as collateral within Velo's Web3+ Ecosystem. Velo plans to expand this multi-chain interoperability throughout 2024 and support this feature soon.

As of now, users can enjoy TUSD cross-chain swapping on Velo’s over-the-counter (OTC) — Universe.

2. Remittance Settlement via TUSD:

The collaboration also introduces an alternative for users to settle remittances using TUSD within Velo's Web3+ Ecosystem. Utilizing TUSD promises a more efficient remittance process especially in cross border transactions.

Velo's popular product, Orbit, a payment gateway that enables merchants and users to transact in cryptocurrency, will also benefit from the integration of TUSD.

This enhancement aligns with Velo's mission to facilitate easy crypto transactions for everyone.

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For media inquiries or further information, please contact info@velo.org

About Velo Labs:

Velo Labs is a global pioneer in Web3-based financial solutions, offering a cutting-edge liquidity and settlement network for secure, efficient value transfers. Backed by Stellar Network and CP Group, our reach has expanded beyond Southeast Asia and the Pacific, now serving partners worldwide. We connect and complement the gap between traditional banking infrastructure and Web3, leading the way in blockchain mass adoption. Our extensive Web3-based payment network, along with Lightnet, our licensed settlement partner, position us as a global heavyweight. Velo Labs offers a diverse range of Web3-based products, notably Orbit, tailored for individuals, merchants, corporations, and enterprises worldwide — dedicated to empowering global financial connectivity and expanding accessibility globally.

Follow us for more info: Twitter / Telegram

About TrueUSD:

TrueUSD (TUSD) is the first USD-pegged stablecoin with live on-chain attestations by independent third-party institutions. It has been listed on 100+ trading platforms such as Binance and Huobi and is live on 10+ mainstream public chains including Ethereum, TRON, Avalanche, BNB Chain, Fantom, and Polygon. TUSD is attested daily by MooreHK, a leading global accounting firm, and integrated with Chainlink’s industry-leading Proof of Reserve to secure minting and further ensure transparency and reliability. TUSD was granted statutory status as authorized digital currency and medium of exchange in the Commonwealth of Dominica on October 7th 2022.

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