Velo Labs Receives Second Strategic Investment from UOB Venture Management
Velo Labs has secured a second strategic investment from UOB Venture Management (UOBVM), the private equity and venture capital subsidiary of UOB, for an undisclosed amount. UOB has a market capitalization of about S$54 billion (as of September 2024) and total assets under management of more than S$500 billion, and Velo Labs will provide Web3-based financial solutions and a settlement network to enable value transfer. (Cointelegraph)
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