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Thai CP Group-backed Velo Labs merges with US payments startup Interstellar


Thai CP Group-backed Velo Labs merges with US payments startup Interstellar
Photo by rawpixel.com on Unsplash
March 16, 2021
Velo Labs, a cross-border settlement protocol backed by Thai conglomerate CP Group, has merged with US-based international payment startup Interstellar in a nine-digit US dollar transaction, according to an announcement.
Interstellar CEO Mike Kennedy and CTO James Wu have become the new CEO and CTO of Velo Labs, respectively, following the deal.
Interstellar was formed in 2018 as the Stellar Development Foundation’s for-profit unit Lightyear acquired Visa- and Citi-backed blockchain startup Chain.
Velo Labs was founded in 2019 to build a cross-border blockchain settlement network focused on the Southeast Asia market. ....

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SE Asia Digest: KB Financial backs Gpay; Lightnet inks fintech pacts


SE Asia Digest: KB Financial backs Gpay; Lightnet inks fintech pacts
Photo by Jonas Leupe on Unsplash.
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South Korea’s KB Financial has invested in Vietnamese e-wallet Gpay while Singapore-based Lightnet has teamed up with Asia Digital Bank and Velo Labs to enable cross-border financial solutions.
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