Home Blockchain Lightnet Receives $50M Capital Commitment From LDA Capital To Boost Velo Blockchain Technology

Lightnet Receives $50M Capital Commitment From LDA Capital To Boost Velo Blockchain Technology

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Lightnet Receives $50M Capital Commitment From LDA Capital To Boost Velo Blockchain Technology

Global alternative investment group, with expertise in innovative cross-border transactions, adds next-generation financial infrastructure to its investment portfolio

SINGAPORE, August 28, 2022 /PRNewswire/ — The Lightnet Group (“Lightnet”) has announced today he got a $50 million capital commitment from LDA Capital Ltd (“LDA”) to develop its infrastructure, operations and expand the blockchain technology of its technology partner (Velo Labs Technology). Lightnet will have the ability to increase the $50 million to a total commitment of up to $100 million over the next three years. The funds will be used to facilitate web 3.0 payment and funds transfer services based on the blockchain ledger, focused on Asia Pacific and globally all over the world.

“Lightnet’s next-generation financial infrastructure, as well as Bike Labs disruptive technology, will be the future rails for dynamic and regulated markets ensuring financial mobility and inclusiveness across Asia“, commented Warren P. Baker IIImanaging partner and co-founder of LDA Capital.

This investment will enable Lightnet Group to drive growth in the payment and remittance space, expanding operating corridors and opportunities, securing licenses – enabling a transition from existing payment and remittance systems to new ones. technologies and building the #1 CeDefi banking network in Asia through its licensed subsidiaries and ever-growing number of partners. LDA’s capital commitment will also be used to augment internal operations, including hiring employees around the world to support the expansion of Lightnet’s ecosystem. Lightnet also intends to use part of the funds to develop Bike Lab’s existing technology and contribute to the growth of Velo anchors, remittance partners and liquidity providers, and help the blockchain company improve its team by hiring management heads and key developers.

“We are delighted with this partnership and are delighted that LDA Capital recognizes the value of next-generation remittance services. This investment will allow us to develop and expand our infrastructure, which partners can participate in and develop business solutions Our unique architecture makes the solution accessible and accessible to anyone to adopt the service.” said Tridbodi Arunanondchai, co-founder and CEO of Lightnet.

The Lightnet group is a Singapore fintech group headquartered with multiple licensed subsidiaries around the world dedicated to improving the lives of unbanked and underbanked populations across the globe Asia Pacificthanks to its revolutionary advance in cross-border remittance infrastructure.

Leverage technology from Lightnet’s close partner Bike Labs, the project aims to be the first real-time blockchain settlement flow for remittances and payments between remittance operators (MTOs) and banking institutions under regulatory oversight and support. The group intends to pilot programs that enable remittances supported by distributed ledger technology through multiple channels, including the use of stablecoins, bypassing the traditional SWIFT settlement process and thereby reducing the need for high pre-funding costs that currently dominate traditional cross-border payment flows. The goal of this project is to demonstrate how emerging blockchain technology offered by companies like technology partner Lightnet Bike Labs can be used in harmony with existing Lightnet infrastructure, to enhance and complement remittances in a regulated and secure environment.

Moreover, with the help of Bike Labs cutting-edge technology, which focus on creating plug-and-play blockchain-based remittance solutions, Lightnet will be able to effortlessly connect to a host of payment partners across the globe, making the remittance ecosystem and payment options more affordable and accessible to businesses and customers alike.

About Lightnet Group

The Lightnet group is a Singapore– fintech group whose head office aims to promote financial mobility and inclusiveness. Lightnet Group empowers unbanked populations and SME trade finance with an inclusive international remittance ecosystem. The Lightnet Group’s international remittance ecosystem adopts, alongside the existing and traditional documentation and process, the Velo protocol as the protocol for documenting blockchain transactions and positions itself as the first clearing and settlement network for the Asia Pacific region by connecting existing financial systems to its network of treasury and portfolio agents. To learn more, please visit www.lightnet.io

About Bike Labs
Bike Labs uses blockchain technology to develop a global settlement network that enables financial institutions to provide secure, near-instantaneous, and low-cost cross-border payments for individuals and businesses. Bike Labs strives to improve access to efficient financial services by developing key technologies that enable the seamless transfer of value across borders. To learn more, please visit www.velo.org

About LDA Capital
LDA Capital is a global alternative investment group with expertise in cross-border transactions worldwide. Our team has dedicated their careers to international and cross-border opportunities having collectively executed over 250 public and private mid-market transactions in 43 countries with aggregate transaction values ​​of over $11 billion. For more information, please visit www.ldacap.com. For any request, please send an e-mail: [email protected]

SOURCE Lightnet Group

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