Thailand-based Velo has announced its collaboration with PTL Holdings (PTLH), intending to merge its digital finance abilities with the latter’s industrial capacity. As per the information detailed in the press release, the partnership between the Velo Web3+ Ecosystem and PTLH’s capabilities intends to enable Laos to accelerate its digital finance adoption.

Velo currently operates in the digital finance sector, providing inclusive and efficient financial solutions via its Web3+ Ecosystem. The company’s objective is to enhance how individuals connect with finance by offering technology and supporting financial inclusion and accessibility. Through its subsidiaries, PTLH participates in Laos’ industrial landscape and intends to assist in economic development.

The industrial conglomerate has a diversified portfolio across several areas, with the company mostly focusing on the commodities sector, specifically in oil and gas operations through its collaboration with its banking affiliate. Velo – PTLH partnership objectives Through this collaboration, the two companies support the Laos PDR’s proactive steps toward improving finance by using blockchain technology, and strategically aligning its plans with other nations. Velo, PTLH, and the country share a commitment to benefiting from the potential of digital financial solutions while working toward a digital economy that enables individuals and enhances economic expansion.

Moreover, the country’s regulatory bodies implemented a progressive approach to policy execution, with the move supporting the advancement of digital finance in Laos. Furthermore, the country positions itself as a hub for improved solutions in the evolving environment of future Web3 payments. By working together, Velo, PLTH, and a bullion bank assist the country’s simplified integration of future Web3 payments and other advanced solutions. The three parties signed a Memorandum of Understanding (MoU) to officiate their collaboration, with Velo and PTLH being committed to supporting Laos in providing more accessible, inclusive, and technologically enhanced services.

More information about Velo Intending to develop a Web3-based liquidity and settlement network, Velo Labs aims to enable partners to securely transfer value with an integrated universal payment network assisted by the Velo Protocol. The company is supported by Stellar Network and CP Group, with it being focused on offering its services to partners in Southeast Asia and the Asia Pacific region. Velo Labs intends to complement and connect the pre-existing banking infrastructure to Web3 technology.

Currently, the company assists the blockchain mass adoption by providing several Web3-based products customised to demographic sectors, including individuals, merchants, corporations, and businesses. Velo’s vision is to provide businesses with global funds and expand access for individuals worldwide. .