Velo and its affiliate, Lightnet, have entered into a Memorandum of Understanding (MOU) with the Solana Foundation for the Laos Gold Project. Solana will serve as the blockchain settlement layer, while Velo will act as the supporting system and designated clearinghouse for digital gold transactions in Laos under the Gold Project. This partnership aims to ensure efficient and secure transaction processing on the blockchain.

Velo is tasked with ensuring the functionality and reliability of clearinghouse operations. This involves verifying and settling transactions securely, maintaining trust, and ensuring the smooth execution of contractual obligations between buyers and sellers on Solana's blockchain.

The MOU entails establishing a robust bridging mechanism to enhance interoperability among Solana's L1, Nova, and EVM-compatible chains. This aligns with the blockchain's vision of connectivity, promoting the seamless transfer and availability of digital assets across multiple blockchain networks.

The collaboration will facilitate new possibilities for asset transfers, liquidity provision, and Web3 functionalities, addressing the need for cross-chain transactions and fostering the growth of the Web3 ecosystem.

Furthermore, the MOU includes the implementation of comprehensive liquidity management protocols. These protocols involve creating and maintaining on-ramp and off-ramp mechanisms for assets on the Solana blockchain, initially targeting Southeast Asia and eventually expanding globally.

This approach enables Digital Gold to expand its user base and enhance connectivity, particularly for users seeking a stable and secure store of value. Leveraging Solana's technological expertise, users can seamlessly integrate investment and financial options into the dynamic digital landscape.

Velo Labs is a globally recognized provider of Web3-based financial services, offering an advanced liquidity and settlement network for secure and efficient value transfers. Backed by the Stellar Network and CP Group, it has extended its reach beyond Southeast Asia and the Pacific, serving partners worldwide. Velo Labs bridges the gap between traditional banking systems and Web3, paving the way for widespread blockchain adoption.