Velo Protocol, Lightnet, and OpenEden Form Joint Venture to Launch Treasury-as-a-Service and ASEAN Settlement Network

Bolstering tokenized U.S. Treasuries while building the foundation for compliant stablecoins and cross-border payments

SINGAPORE, Sept. 12, 2025 /PRNewswire/ -- Velo Protocol and Lightnet Group today announced the next phase of their joint venture relationship with OpenEden, a leading provider of tokenized U.S. Treasury Bills (TBILL). Together, the three parties are advancing beyond foundational reserves to deliver a full-suite Treasury-as-a-Service (TaaS) platform and a regional settlement network designed to power stablecoin issuance, cross-border payments, and institutional-grade financial services throughout Asia.

OpenEden's TBILL, the first tokenized U.S. Treasury Bill product to earn an "A" rating from Moody's, and which also holds a "AA+" rating from S&P, provides the secure and liquid foundation for this new infrastructure, which is built to support large-scale settlement activity and unlock new opportunities for compliant digital finance.Treasury-as-a-Service

Launched in Q4 2024, the Treasury-as-a-Service platform will give enterprises, DAOs, and Web3 treasuries direct access to tokenized U.S. Treasuries. This service establishes a new standard for on-chain treasury management, offering a compliant, transparent, and yield-bearing reserve solution that bridges traditional finance and blockchain.

Building ASEAN's Settlement Infrastructure

The joint venture will also focus on building a comprehensive, future-proof settlement network for financial institutions, fintechs, and enterprises across the ASEAN region. The platform will enable:

• Digital-Fiat settlement infrastructure issued compliantly to serve as settlement tokens.
  
  
• Real-time cross-border payments and remittances for MTOs, merchants, and institutional partners, with initial rollout prioritizing high-volume corridors.
  
  
• Secure custodial and treasury solutions delivered via licensed providers, ensuring regulatory compliance.
  
  
• Liquidity, FX conversion, and hedging tools are accessible through both DeFi and traditional financial rails.

Delivered through a modular API stack, the infrastructure is designed for seamless integration by banks, fintechs, and merchant platforms, bringing Web3-native efficiency to established financial operations.

About Velo Protocol

Velo Protocol is a pioneer in Web3-based financial solutions, offering a next-generation liquidity and settlement network that bridges traditional financial infrastructure with blockchain technology. Backed by the Stellar Network, Velo Protocol delivers secure, scalable, and efficient value transfer solutions to individuals, enterprises, and financial institutions worldwide. Through its Real World Restaking (RWR) initiative, Velo Protocol is building the backbone for the PayFi ecosystem, empowering global adoption of stable, yield-bearing digital assets.

About Lightnet

Lightnet Group is a Singapore-headquartered fintech company dedicated to bridging the gap between traditional finance and the digital economy. Built on next-generation blockchain infrastructure, Lightnet provides efficient, low-cost, and near real-time cross-border settlement solutions to financial institutions, money transfer operators, and enterprises across Asia. Backed by leading investors including UOB, Seven Bank, and CP Group, Lightnet delivers secure and compliant payment rails that connect banks, fintechs, and decentralized finance platforms, enabling inclusive financial access for underserved markets.

About OpenEden

OpenEden operates a leading real-world asset (RWA) tokenization platform, renowned for its unmatched focus on regulatory standards and advanced financial technology. Founded in 2022, OpenEden bridges traditional and decentralized finance by providing, through its regulated entities in the BVI and Bermuda, secure, transparent, and compliant on-chain access to tokenized RWA. OpenEden is redefining financial access through tokenization with a core focus on compliance and innovation.

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SOURCE Velo Labs Technology Ltd.