Velo Labs Secures Second Strategic Investment from UOB Venture Management
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September 18, 2024
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ChainCatcher reported, citing Cointelegraph, that Velo Labs has secured a second strategic investment from UOB Venture Management (UOBVM), the private equity and venture capital arm of United Overseas Bank (UOB). The exact amount of the investment has not been disclosed.
It is understood that UOB has a market capitalization of approximately S$54 billion (as of September 2024) and manages total assets exceeding S$500 billion. Velo Labs will provide Web3-based financial solutions and settlement networks to facilitate value transfer.
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