### What is Velo?

Velo is a decentralised settlement network designed to enable secure and transparent value transfers. It allows licensed financial institutions to create and exchange digital assets pegged 1:1 to any local currency, which are backed by Velo tokens.

### How does Velo work?

Velo operates on a combination of the Stellar blockchain and Evrynet, a fork of Ethereum, to take advantage of smart contract capabilities and efficient transaction processing. It uses a digital reserve system and digital credit issuance mechanism to maintain a 1:1 value ratio between issued digital credits and associated fiat currency, facilitated by staking tokens in collateral pools. The network also integrates with The Graph for data-driven Web3 innovation.

### What are the potential use cases for Velo?

Velo has several potential use cases, including:

- Offsetting transaction fees on its Universe hybrid DEX.
- Enabling borderless transfers between institutions and retail users via Lightnet.
- Tokenising real-world assets to increase liquidity and accessibility.
- Providing peer-to-peer payments through the Orbit mobile application.
- Facilitating B2B payments and remittances.

Velo also has notable partnerships with organisations such as EvryNet and TransactCloud, enhancing its interoperability and service offerings.

### What is the history of Velo?

Velo was founded by Velo Labs and is supported by the Stellar Network and CP Group, one of Asia's largest conglomerates. Its development aims to improve financial transactions by integrating traditional finance with blockchain technology. Key milestones include a $10 million investment by DWF Labs to accelerate its ecosystem and the development of the Velo Protocol, which enhances its capability to issue and transact digital credits securely and efficiently.

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