Evrynet And Velo Announce Strategic Merger To Build The Future Of CeDeFi
Blockchain infrastructure leader and dApp pioneer bring together institutional and retail product suite to deliver new wave of financial services
News provided byEvryNet
May 26, 2022, 9:00 PM ET
BANGKOK, Thailand, May 26, 2022 (GLOBE NEWSWIRE) -- EvryNet, a financial services platform for building centralized and decentralized applications in DeFi, has today announced a strategic merger with Velo Labs, a leading blockchain infrastructure company focused on improving international remittances.
The merger brings together two organizations that share a strong product and technology synergy, and will set out to serve a combined institutional and retail audience of Defi adopters.
EvryNet enables CeFi into the DeFi world. EvryNet’s decentralized applications unlock a world of new assets, investment opportunities, and innovative strategies for investors. Simultaneously, EvryNet gives DeFi projects exposure to a broader ecosystem of investors to create a flywheel of growth.
Korapat Arunanondchai, Project Lead at EvryNet, said:
“The bleeding edge technology of both EvryNet and Velo is a potent mix and we look forward to marrying the best of centralized and decentralized finance technology. With our combined talent, we are confident this merger will position the new Velo as a forerunner in CeDeFi.”
Bringing together the teams at Velo and EvryNet has significant benefits for both projects. The Evrynet team brings deep crypto-specific knowledge that will enhance Velo’s combined product offering and business direction and the Velo team's access to institutional partners will aid in the creation of a true CeDeFi ecosystem – a core focus for both teams and what they believe to be the future of finance.
Velo Labs is developing a blockchain-based, compliance-first global settlement network to provide fast, secure and low cost cross-border payments to both individuals and businesses. As part of their mission to improve financial services, Velo Labs provides financial institutions with the ability to transfer value across borders in a much more efficient way than traditional financial institutions. With partnerships already in place with financial institutions in Southeast Asia, Europe, the UAE, and Africa, Velo is positioned at the forefront of a new wave of global financial infrastructure.
As part of this announcement, we are offering the ability for EVRY token holders to swap to VELO at a 1:1 ratio! Anyone interested in participating in this exciting opportunity can do so at the following URL: https://evry.finance/exchange/directexchange/
Mike Cowans, Velo Labs CEO, said:
“Our mission at Velo Labs has always been to raise the standard of financial inclusion and mobility, and to deliver products that improve access to financial infrastructure. This strategic merger with EvryNet, who share similar goals, will only strengthen our commitment to this mission, while opening up exciting opportunities for further growth in decentralized finance. We are excited for what the future holds.”
EvryNet accelerates the convergence of CeFi and DeFi by setting new standards in security, usability and scalability in DeFi. EvryNet builds decentralized applications for traditional financial services, merging the high yields of modern finance with the compliant infrastructure that investors need to operate securely while maximizing their financial opportunities.
Simultaneously, EvryNet provides Defi projects exposure to a broader ecosystem of retail, sophisticated and institutional investors across all blockchains, creating a flywheel of holistic growth. EvryNet brings together centralized and decentralized finance in a compliant framework to advance global finance as a whole.
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