Velo
Crypto Overview
Purpose and Utility
Velo Protocol is a financial protocol designed to facilitate cross-border payments and digital credit issuance, primarily focusing on the Asia Pacific region. The VELO token serves as the protocol's native digital reserve asset and collateral mechanism for its credit issuance system.
Business Model
The protocol enables trusted partners called 'Trusted Partners' to issue digital credits (vUSD/vTHB) backed by VELO tokens as collateral. These digital credits can then be used for cross-border payments and settlements. The business model appears transparent and focuses on legitimate financial services without involvement in prohibited activities.
Real-World Adoption
Velo has established partnerships with various financial institutions in Southeast Asia, including Lightnet Group and several regional banks. The protocol has demonstrated actual usage in cross-border payments, though adoption remains in early stages.
Development Activity
The project maintains active development, with regular updates to its protocol and infrastructure. The team continues to expand partnerships and implement technological improvements to their cross-border payment solutions.
Token Distribution
VELO tokens were distributed across various stakeholders, including team members, advisors, and the community. The project implemented vesting schedules for team allocations to prevent immediate selling pressure.
Crypto Impact
To assign a comfort level investing in Velo from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Velo.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.