Matrixport announced today that its institutional custodian service, Cactus Custody, is supporting Velo Labs and the VELO token. VELO is the native token of the Velo Protocol – Velo Labs’ next-generation financial protocol enabling digital credit issuance and borderless asset transfer over a unique federated credit exchange network.
At the core of the Velo Protocol is the VELO token. The VELO token serves as a bridge asset, enabling Velo Labs’ network of Trusted Partners to securely transfer value between each other in an instant and transparent manner using blockchain technology. Velo Labs and its partners will bring great value to users through its Velo Protocol, federated credit exchange and other innovative products by enabling a robust digital asset exchange marketplace. Velo Labs’ federated credit exchange network will provide cross-chain liquidity together with on-chain/off-chain liquidity and settlement.
With Matrixport and Cactus Custody, Velo Labs and its Trusted Partners can leverage a secure and reliable institutional crypto management system and multi-tiered storage system to store their assets and scale their business applications.
Cactus Custody aims to bring increased security, transparency, and efficiency to the market while empowering its clients’ growth. By partnering with Velo Labs, Matrixport and Cactus Custody will explore more innovative Defi services and elevate the infrastructure in the crypto industry.