Velas Expansion Plans Boosted by Gem Group $135 Million Financial Commitment

Velas Network, a 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 Group (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 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, says, "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."

It is important to note that Velas is a trading name used for the Velas blockchain protocol, the ecosystem of related software products and legal entities engaged therein. It is also is currently the fastest blockchain with Ethereum VM compatibility and was founded in 2019 in Zug, Switzerland.

In addition to that, 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 an ecosystem that uses a wide range of decentralized products and services. Its main goal 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.