VELO (CRYPTO:VELO), likened to the "XRP of Southeast Asia," has seen an astounding 358% surge in value over the past six weeks, captivating traders globally.

Developed by Velo Labs, VELO aims to facilitate digital credit issuance and borderless asset transfers for businesses through smart contracts.

Unlike XRP, VELO incorporates smart contracts, contributing to its recent market performance and distinguishing it in the cross-border payments landscape.

Despite the broader crypto market downturn, VELO has shown resilience, with its trading volume increasing by 30% and significant gains in value.

Strategic partnerships with industry players like iRemit and Visa have further bolstered VELO's appeal, positioning it as a promising contender in the realm of cross-border payments and digital finance solutions.