Velic cryptocurrency management DApp to build on ICON blockchain

Fibo Quantum

VELIC, a comprehensive solution for crypto-asset management with native VELT token, today announced it has established a strategic partnership with ICON, a leading blockchain network on the forefront of interconnecting isolated projects. VELIC aims to unify disparate services into a single “digital asset financial service.”

As a financial DApp, VELIC has been searching for a suitable smart contract platform to develop upon. The team reviewed Ethereum, EOS, Hyperledger, and Qtum, however, it ultimately decided to develop on the ICON’s loopchain. Not only will ICON’s loopchain enable VELIC to scale to enterprise-level, but conversely VELIC will also help expand the ICON ecosystem.

Each letter of VELIC represents one of its core services. Vault: privately secures private keys in a decentralized state. Exchange: provide crypto-to-crypto exchange alongside trade-mining staking features. 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 strategic partnership with ICON will help secure VELIC’s crypto asset services even further. By utilizing ICON’s proprietary technology (loopchain), we expect VELIC to exponentially grow its financial services.”

Timothy Yang, the CSO of VELIC, supports the ICON

“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 (loopchain) to VELIC.”

J.H. Kim, a council member of the ICON Foundation

The VELIC platform aims to launch the exchange and native VELT token in Q1 2019.