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The New Digital Asset Financial Service, VELIC aims to be FRB in the ICON’s Global DApp Ecosystem

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VELIC is a security-focused comprehensive financial service platform that delivers wide a range of advanced crypto-financial products and services and plans to provide a multitude of services are not just in commercial banking, but also investment banking service in the digital currency industry including asset management, custody, and loan to VELIC’s users on a single platform.

VELIC believes that there’s a need for a comprehensive service platform for digital assets

The cryptocurrency market has gone through various stages of evolution, and at this point, many investors would agree that it had matured. Still, there is a long walk until reaching the same adoption as the traditional financial markets, such as the foreign exchange or the stock market. One of the greatest challenges of today’s crypto community is fragmentation. Starting in 2017, we have noticed a sudden boost in the volume of trading, which led to the development of hundreds of crypto exchange platforms, digital wallets, custody services, and other crypto-related applications. The problem is that institutional and retail investors are often confused about the high number of operators. The latter ones are most often incompatible with each other, as there is no single unified network and no infrastructure for the integration of multiple services.

On the VELIC platform, users can seamlessly use products and services with the same account, greatly improving the utility and user experience of financial digital asset management

VELIC aims to address the current fragmentation in the crypto space by offering a blockchain-oriented ecosystem that would enable users to get access to the top digital assets and integrate any blockchain network. The unified platform provided by VELIC revolves around a crypto exchange, asset management, vault, and loan services. Both institutional and retail investors will be able to use it and access all the services from a single user account.

Each letter of VELIC in the name represents one of its core services

Vault: privately secures private keys in a decentralized state.

Exchange: delivers the best digital asset trading experience by hosting a safe and transparent trading service. Besides the exchange platform, VELIC will operate an OTC trading desk to handle large trades and the IEO platform to offer new digital assets to the VELIC users.

Loan: create an internal credit-rating system that enables the borrowing of crypto assets. Investment: provides crypto asset management services for crypto assets on VELIC.

Crypto Assets: most importantly, VELIC will primarily be focused on developing a financial crypto financial infrastructure.

The diverse background of the VELIC team

In April 2018, VELIC formed its own specialized organization comprised of financial experts, established a subsidiary in Singapore. The core team consists of experienced quantitative, financial consulting, derivatives, and trading system development engineers and professionals. VELIC needed a team with such diverse professional backgrounds to ensure that they can implement the entire suite of financial services which we envision.

South Korea’s ICON to Back VELIC

Starting with the DEBLOCK, a VC firm and accelerator jointly founded by ICON, investment, VELIC has recently announced a partnership with ICON, one of Korea’s top blockchain projects and one of the largest blockchain networks in the world, in order to leverage ICON’s expertise in blockchain technology.  

“VELIC has the unfair advantage as being one of the first total financial services ranging from asset management to loans. As a global exchange VELIC can introduce ICON to a new global user base. ICON aims to co-expand the blockchain ecosystem by providing technical support to VELIC,” Says confidently J.H. Kim, council member of the ICON Foundation.

“VELIC will be a bank in the crypto ecosystem, especially the ICON ecosystem,” says Hyun Oh, the CEO of Deblock and “This entity will add liquidity to the ecosystem. By providing a variety of financial services, VELIC will revitalize the ecosystem in a variety of ways,”

In the meanwhile, “VELIC will also utilize the value from the ICON and DEBLOCK partnership. The strategic partnership with them will help bolster VELIC’s services even further, by bringing global resources as well as technology. By utilizing ICON’s DApp Ecosystem Community, VELIC will be able to scale up rapidly its financial services,” says Timothy Yang, the CSO of VELIC

The Most Trusted Crypto Exchange

The first step toward global financial markets will begin with launching an Exchange service and native VELT token in February this year (2019) followed by loans and ETF-like investment products which address the current market pain points. Overall, VELIC expects to be able to release their full suite of services before the end of this year.

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