Velas Expansion Plans Boosted By Gem Digital’s $135 Million Financial Commitment
A major new $135M financial commitment is set to supercharge Velas’ mission to make its blockchain technologies accessible to people, businesses, and communities around the world.
September 28th, 2022 — Velas Network, a leading blockchain protocol and ecosystem of related software products, has today revealed details of a major new partnership with Bahamas-based digital asset investment firm GEM Digital Limited (“GEM”).
The $135M financial commitment is set to help Velas Network consolidate its position as the global leader in new blockchain technologies. This will support the business to deliver on its ambition to improve everyone’s lives by making advanced and disruptive technologies more accessible.
Since its launch in 2019, Velas has rapidly established itself at the forefront of blockchain products and services. Thanks to its industry-leading transaction speeds, unparalleled security, and zero carbon certification, it has already become the blockchain partner of choice for many of the world’s leading brands.
Today’s $135M financing announcement is now set to supercharge Velas’ progress. The new financing facility will help accelerate Velas’ ecosystem growth and help to ensure that its cutting-edge blockchain is more effective, sustainable, and accessible than ever before.
Farhad Shagulyamov, co-founder of the Velas Project
“I am delighted to announce GEM as Velas’ new strategic partner. The size and scale of the financing they are committing to is a clear indicator of the confidence institutional players have in the potential of our technology, the skills of our team, and the robustness of our business model.
This financing facility will boost our ability to introduce innovative technologies and solutions to the global marketplace, taking us into new markets and sectors. It will allow us to expand our ecosystem and improve the blockchain itself, expanding the number of users who can benefit from our cutting-edge approach.
This partnership would have been impossible without the hard work and commitment of many people behind the scenes at both Velas and GEM. I would like to thank both teams for the diligence, commitment and professionalism that has helped deliver this ground breaking deal.
At Velas we are driven by a shared belief that opening up access to new technologies has the potential to benefit businesses, communities, and the planet. This significant investment will not just make a difference to our own business, but it will also benefit our customers worldwide.”
“Velas” is a trading name used for the Velas blockchain protocol, the ecosystem of related software products and legal entities engaged therein.
Velas is currently the fastest blockchain with Ethereum VM compatibility and was founded in 2019 in Zug, Switzerland.
Velas is also one of the most efficient blockchain networks for secure, interoperable, extremely scalable transactions and smart contracts that is integrating world-changing technology products and services with the aim of improving people’s lives all over the globe.
Velas is creating an innovative environment for decentralized applications, social platforms, open finance, access management solutions, Web 3.0 DeFi apps, micro-apps and more.
Providing up to 75,000 transactions per second with extremely low fees, Velas is one of the most efficient blockchain networks available. Being an ecosystem using a wide range of decentralized products and services, the main goal of Velas is to bring blockchain technology to all types of users, from micro-startups to enterprise divisions while undergoing active efforts of being certified as a Climate Neutral blockchain and aiming of being a fully distributed Space network by 2025.
About GEM Digital Limited
GEM Digital Limited is a digital asset investment firm. Based in The Bahamas, the firm actively sources, structures, and invests in utility tokens listed on over 30 CEXs and DEXs globally. Global Emerging Markets (“GEM”) is a $3.4 billion alternative investment group with offices in Paris, New York, and the Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 530 transactions in seventy-two countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provides GEM and its partners with exposure to Small-Mid Cap Management Buyouts, Private Investments in Public Equities, and select venture investments.