Parikshit Mishra
Parikshit Mishra is the news editor for CoinDesk during the mid Asia and early European hours. He does not have any crypto holdings.
Fintech firm Lightnet group has received a $50 million commitment from investment group LDA Capital, the said on Monday.
The Singapore-headquartered Lightnet said it will use the funds to boost Web3 and cross-border payments through the Velo protocol, and expand the protocol's technology. The firm has the option increase the total commitment to up to $100 million over the next three years.
Velo is a protocol focussed on cross-border payments services, specifically in Asia Pacific.
Lightnet had raised a $31.2 million Series A in 2020. It had raised the funds from the investment arm of Singapore-based multinational United Overseas Bank, UOB Venture Management, Seven Bank, HashKey Capital, and others.
