SAN FRANCISCO, July 7, 2022 /CNW/ — Bike Labsa leading blockchain infrastructure company focused on improving international remittances, announced another successful listing of its utility token, $VELO, on leading global digital asset financial services provider, Huobi.
Bike Labs is developing a blockchain-based global settlement network to enable fast, secure, and low-cost cross-border payments for individuals and businesses. As part of their mission to improve financial services, Bike Labs provides institutions with the ability to transfer value across borders more efficiently compared to traditional mechanisms. The process involves issuing digital credits pegged to a local fiat currency, which are backed by the VELO token, ensuring that a 1:1 value ratio between the digital credits and the underlying fiat currency is maintained.
It allows Bike Labs provide an efficient way to transact value using digital credits without the risk of volatility that is a concern with other digital asset protocols.
CMO of Bike Labs, Mark Fisher, on this list:
“Our utility token plays a critical role in the success of our global settlement network, and increasing the availability of the VELO token around the world has always been a top priority for our team. We are excited to partner with Huobi for this listing and we look forward to educating the Huobi community on the benefits of our project.”
About Bike Labs
Bike Labs uses blockchain technology to develop a global settlement network that enables financial institutions to provide secure, near-instantaneous, and low-cost cross-border payments for individuals and businesses. Bike Labs strives to improve access to efficient financial services by developing key technologies that enable the seamless transfer of value across borders.
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THE SOURCE Bike Labs
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