Let no one fault VELIC for lacking ambition.

“We hope that VELIC can become the JP Morgan of the digital currency industry in that we can provide a multitude of services to VELIC’s users on a single platform,” says Timothy Yang, the Chief Strategy Officer of the crypto financial services project. “Interestingly, many of the established financial institutions are interested in the digital asset business — they will be terrible competitors, but perhaps it shows that we are on the right path.”

To help achieve its goal of becoming the go-to DApp to manage your crypto assets, VELIC entered into two major partnerships this month — one with blockchain accelerator Deblock, the other with ICON. With these partnerships, VELIC can avail itself of ICON’s cutting-edge blockchain technology and wealth of experience working with enterprises, including financial institutions. ICON, meanwhile, hopes its strategic partnership with the crypto asset management project will help expand the former’s ecosystem. “VELIC has the unfair advantage as being one of the first total financial services ranging from asset management to loans,” said ICON Foundation member J.H. Kim when the partnership was announced. “As a global exchange VELIC can introduce ICON to a new global user base.”

Comprehensive, secure, accessible

VELIC takes what are currently separate services — vaults, loans, exchanges, investment and so on — and unifies them into a single “Digital Asset Financial Service.” It is a comprehensive financial ecosystem service platform, an entity Yang likens to universal banks such as the aforementioned JP Morgan, which engage in not only commercial banking but also investment banking services such as asset management, custody and financial advice.

Yang sees a need for such a comprehensive service platform in today’s crypto space. “Although there are various types of service providers on the market that offer different types of products and services to digital currency investors, the synergies between products are often overlooked,” he says. “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 literally spells out its vision in its name, an acronym of the services it offers: V for Vault, E for Exchange, L for Loan, I for Investment and C for Crypto. The Vault securely stores access to crypto assets, while the Exchange offers safe, transparent crypto asset trading. You can borrow or lend crypto assets at preferential rates using the Loan service, or make use of a wide range of investment products — including ETF-like investment solutions — with the Investment service. And needless to say, all these services are based on crypto assets.