PANews reported on September 18 that Web3 financial company Velo Labs has received a second strategic investment from UOB Venture Management (UOBVM), a private equity and venture capital subsidiary of United Overseas Bank. The specific amount has not been disclosed. As one of Asia's leading financial institutions, United Overseas Bank has a market value of approximately 54 billion Singapore dollars (as of September 2024) and manages total assets of more than 500 billion Singapore dollars.