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EU-Thailand Remittance Corridor Opened on Stellar Blockchain
Velo Labs has joined with TEMPO Payments and Bitazza to facilitate transfers on the Stellar blockchain.
A remittance corridor has been opened between the 27 European Union (EU) countries and Thailand on the Stellar blockchain.
STORY CONTINUES BELOW
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- Velo Labs, which is building a global settlement network, has partnered with TEMPO Payments, the EU anchor for Stellar blockchain payments, and Thai crypto trading platform Bitazza to enable the transactions.
- Transactions will leverage Velo's protocol and native VELO token and be settled in seconds on the Stellar blockchain, according to an announcement Wednesday.
- The remittance market between the EU and Thailand connects 600 million customers and is worth around $17 billion, Velo said.
Read more: SBI Ripple Asia Launches Cambodia’s First Cross-Border Remittance Service Using Blockchain
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
