Velo and Solana have announced a partnership to establish a clearinghouse for digital gold transactions in Laos. In an April 8 announcement, Velo unveiled a Memorandum of Understanding (MOU) to establish a clearinghouse for the project. By combining Solana’s advanced blockchain technology with Velo’s infrastructure, the partners will create a highly efficient and secure platform for processing digital gold transactions that will be settled on the blockchain.
This key feature ensures the verification and coverage of multiple transactions, developer trust between counterparties, and ensures smooth execution of contractual obligations between buyers and sellers of the system, settled on the Solana blockchain. They will also deploy a robust bridging mechanism that aims to improve interoperability between L1 Solana, the Nova ecosystem and EVM-based chains.
The partnership will strengthen the plan to develop a clear liquidity management system for the digital assets. As part of the agreement, both companies will establish transparent and effective management protocols to meet asset liquidity needs and improve asset availability. Using Velo’s financial infrastructure and Solana’s blockchain capabilities, both teams will create a secure and efficient way to conduct digital gold transactions.
Image: CoinGape
