ChainCatcher reported that according to Cointelegraph, Velo Labs has received a second strategic investment from UOB Venture Management (UOBVM), a private equity and venture capital subsidiary of United Overseas Bank. The specific amount has not been disclosed.
It is reported that UOB's market capitalization is approximately S$54 billion (as of September 2024) and its total assets under management exceed S$500 billion. Velo Labs will provide Web3-based financial solutions and settlement networks to achieve value transfer.
