The companies informed that the integration was made in a bid to combine the ecosystems of the two organisations to build a global settlement network that aims to enable faster, cheaper, and more transparent cross-border payments.
Over the course of the 2020, with the support of the Interstellar team, Velo has accomplished milestones, including the issuance of Velo Tokens on the Stellar network, the listing of Velo Tokens on major exchanges (KuCoin, VCC, OKEx, and MXC), the development of the Velo Protocol with core functions (Digital Credit Issuance System, the Digital Reserve System, and the Hermes Warp Protocol), and the completion of its first live transactions using its Federated Credit Exchange network in December 2020. The two companies have set out a 2021 roadmap to build solutions for individuals, businesses, financial institutions, and their customers. The companies also aim to drive greater adoption of the Velo protocol and increase the number of transactions over Stellar DEX and Velo FCX.
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