Lightnet and Velo to Create Next-Generation Financial Ecosystem With 3 Financial Service Licenses in Europe and Asia
[ChainDD report] March 11 (ChainDD) On March 11, Bitazza, Thailand's leading digital asset brokerage, alongside Lightnet Group, has announced a share acquisition in Bitazza raising 6 million USD to fuel its growth expansion plans.
The acquisition will seal a strategic partnership between Bitazza, Lightnet, and Velo Labs to create a next-generation financial ecosystem by seamlessly connecting traditional finance to the global digital network, creating a more streamlined pathway between fiat and cryptocurrencies, and providing millions of Thai users with access to international markets. Velo Tokens will serve as the main bridge asset for the total ecosystem of the CeDeFi Bridge.
Through this acquisition, Lightnet and Velo Labs can link Thai users to international markets by utilizing licenses. Lightnet and Velo Labs will have 3 major financial service licenses after the acquisition, including Bitazza's digital asset broker licenses, Lightnet Group's MPI license under the Payment Services Act (PSA) overseen by the Monetary Authority of Singapore (MAS) in Singapore, and the Electronic Money Institution (EMI) license in the European Union through Bank of Lithuania.