EU-Thailand Remittance Corridor Opened on Stellar Blockchain
11 Aug, 2021•1 min read•Blockchain
A remittance corridor has been opened between the 27 European Union (EU) countries and Thailand on the Stellar blockchain.
Velo Labs, which is building a global settlement network, has partnered with TEMPO Payments, the EU anchor for Stellar blockchain payments, and Thai crypto trading platform Bitazza to enable the transactions. Transactions will leverage Velo's protocol and native VELO token and be settled in seconds on the Stellar blockchain, according to an announcement Wednesday. The remittance market between the EU and Thailand connects 600 million customers and is worth around $17 billion, Velo said.