In an exciting development for the blockchain industry, InsurAce and Velo Labs have officially announced their partnership, marking a significant milestone in the realm of decentralized finance (DeFi) and blockchain technology. This collaboration brings together two innovative platforms dedicated to revolutionizing the way we interact with digital assets and financial services.
On the other hand, Velo Labs is pioneering the transformation of the blockchain utility landscape by developing a decentralized settlement network that enables secure and efficient value transfer between participants. By blending Web 2.0 and 3.0 elements into its infrastructure, Velo Labs aims to create an ecosystem that seamlessly integrates compliance-friendly solutions, facilitating the transition of global economic activities onto the blockchain.
InsurAce, a leading decentralized insurance protocol, offers users the ability to purchase cover protection for their digital assets against various risks, including hacking, smart contract bugs, and stablecoin de-pegging. With its decentralized governance model and seamless user experience, InsurAce has established itself as a trusted platform for risk management in the rapidly evolving DeFi landscape.
So, what does this partnership mean for users of both platforms?
Enhanced Security and Protection
By partnering with Velo Labs, we aim to provide its users with an added layer of security and protection for their digital assets. Through InsurAce’s decentralized insurance protocol, users will have access to comprehensive coverage against various risks, ensuring peace of mind as they engage in transactions and value transfers on the Velo network.
Risk Management Solutions
InsurAce users will benefit from seamless integration with Velo Labs decentralized settlement network, gaining access to efficient value transfer solutions while mitigating risks associated with digital asset transactions. This partnership expands InsurAce’s ecosystem, offering users broader avenues for risk management and financial security.
Onboarding with Compliance
Both InsurAce and Velo Labs recognize the importance of aligning with regulatory frameworks to foster mainstream adoption of blockchain technology. By working together, we aim to develop compliance-friendly solutions that adhere to KYB/KYC standards, paving the way for broader acceptance and adoption of decentralized finance solutions that have security as their highest priority.
About InsurAce
InsurAce is a leading decentralised insurance protocol, providing reliable, robust and secure insurance services to DeFi users, allowing them to secure their investment funds against various risks. Being the 1st in the industry to offer cross-chain portfolio-based covers, InsurAce enables users to get unbeatable low premiums.
InsurAce has been live since April 2021 and has built a full-spectrum cross-chain insurance product line, covering Smart Contract Vulnerabilities, Stablecoin De-Peg events, Bridge Vulnerabilities, IDO risks, and Custodian Risks… protecting over $422m of assets of 80,000+ customers!
About Velo
Velo’s mission is to revolutionize the world of blockchain utility through the transformational power of blockchain technology. Combining Web 2.0 & 3.0 as Web3+ infrastructure with the compliance-friendly approach, Velo Labs’ “Web3+” ecosystem will serve as a core infrastructure to onboard the current global economic activities to the blockchain along with multi-assets, chain, kyb/kyc/anonymous interoperability.
