VelaFi Officially Enters the Japanese Market, Driving Digitalization Upgrade in Trade Settlement

October 30th - The Stablecoin cross-border financial infrastructure platform VelaFi declared its formal entry into the Japanese market. As one of the co-founders, it joined the Stablecoin Settlement Association led by Tokyo-listed company Ikuyo Corporation in an effort to jointly promote the digitalization upgrade of Japan's trade settlement system. It is known that this association will bring together financial institutions, exporters, and fintech service providers to construct a blockchain-based standardized settlement infrastructure in order to address the pain points in Japanese enterprises' cross-border payments, such as delays, hidden costs, and lack of transparency. By leveraging its core technology in blockchain and stablecoins, VelaFi will offer integrated services like T+0 real-time settlement, transparent exchange, and multi-currency virtual account management, and share its international deployment experience. Maggie Wu, the co-founder and CEO of VelaFi, pointed out that Japan, as a global trade hub, will focus on eliminating inefficient processes in cross-border payments and establishing new industry standards through this cooperation. A spokesperson from Ikuyo stated that both parties will assist local import and export enterprises in accelerating fund turnover and optimizing costs. This entry into the Japanese market represents a significant milestone in VelaFi's global expansion. Its operations currently cover markets in Latin America, the United States, and Asia, including Hong Kong and Singapore. As a part of Galactic Holdings, VelaFi has provided end-to-end financial services to hundreds of governments and enterprises, covering various fields such as cross-border e-commerce and Web3. This move further strengthens its influence in the Asia-Pacific region and injects impetus into Japan's stablecoin settlement ecosystem's compliance and development.