BANGKOK,THAILAND - Media OutReach - 25 August 2020 - Lightnet Pte. Ltd., aSingapore-based Fintech company, has signed a Memorandum of Understanding (MOU)with SEBA Bank, a FINMA-licensed Swiss Bank to provide a seamless, secure and accessiblebridge between digital and traditional assets, in a bid to strengthen the LightnetGroup's remittance settlement capability.

Withthe MOU in effect, SEBA Bank will serve as the banking counterparty for the LightnetGroup, enabling settlements, correspondences and remittances uniquely in both fiatand digital currencies. SEBA Bank will also act as an alternative settlementbanking network, account and custodian as well as the settlement bank for moneytransfer operators (MTOs) in digital currencies.

Usingthe Velo Protocol, a blockchain financial protocol developed by Velo Labs,Lightnet Group will provide remittance services across Southeast Asia formillions of unbanked migrant workers. This will allow a bypassing of the globalremittance industry -- a trillion USD market characterised by high transactionfees, fragmentation and unreliable payment routes -- conversely providing lowerfees, faster transactions and broader coverage. Lightnet Group has also plannedto introduce multi-currency virtual accounts to address the inefficiencies ofglobal trade finance.

"Thepartnership with SEBA has significantly enhanced the efficiency andinteroperability of settlements between digital currency and the real world,"comments Chatchaval Jiaravanon, Co-founder and Chairman of Lightnet Group. "Drawingon our complementary strengths with SEBA Bank, our new joint venture entity inSingapore will be poised to serve both retail and institutional investors fromthe globe with a more transparent and secure settlement solution."

MatthewAlexander, Head of Asset Tokenization of SEBA Bank, comments: "We are delighted to forge thispartnership with Lightnet Group and be part of the vibrant fintech landscapethat Southeast Asia represents. Asia is a promising market not only becauseof its size but especially because of the affinity of the people towardsdigital services and digital assets."

GuidoBühler, CEO SEBA Bank, states "Asset Tokenization is an important pillar ofSEBA Bank -- the combination of Asia and stable coin is a fantasticconstellation. SEBA is proud to help offering remittance services to manypeople who were cut-off from the traditional banking system. This is a big steptowards the future of banking."

VeloLabs, backed by ten leading Asian conglomerates, is the first decentralizedcredit and settlement network in Asia and one of the first "Federated FinancialNetworks" to bridge digital and real-world settlement. Velo Labs' blockchainprotocol allows partners to safely and securely transfer value between eachother with maximised efficiency and transparency. Currently, it serves businesspartners in the remittance and money transfer markets of Southeast Asia.Lightnet Group will be able to offer its services without the users having todirectly interact with the Velo Protocol or VELO tokens.

TridbodiArunanondchai, Co-founder and Group CEO of Lightnet Group adds that "Velo will also serve as abridge asset, not only for enabling both cross-chain liquidity and on-chain tooff-chain liquidity and settlement, in a seamless and frictionless fashion."

SEBABank´s partnership with Lightnet Group marks their first foray into SoutheastAsian markets via Thailand. Earlier in January, Lightnet Group raised USD 31.2million in a Series A financing round backed by eight Asian conglomerates,including prolific investors such as UOB Venture Management, Seven Bank,Uni-President Asset Holdings, HashKey Capital, Hopeshine Ventures, SignumCapital, Du Capital and Hanwha Investment and Securities. The Group aims tocarry out its first live transaction in the Q4 this year.

About Lightnet Group

Lightnet Pte. Ltd. is aSingapore-headquartered fintech company with the purpose of empoweringunderbanked populations and SME trade finance with an inclusive internationalremittance ecosystem. The Lightnet Group adopts Velo as its Blockchain protocoland positions itself as the next generation clearing and settlement networkacross the Asia Pacific region by leveraging blockchain and connecting existingfinancial systems with its network of cash agents and wallets. The LightnetGroup's initial focus will be on Southeast Asia remittances which it estimatesto be in excess of USD 150 billion per annum.

www.lightnet.io

About SEBA Bank

SEBA Bank is apioneer in the financial industry, building a progressive technological bridgebetween the digital and traditional asset worlds.

Founded in April 2018 and headquartered in Zug, Switzerland, SEBA wasone of the first financial institutions with a focus on digital assets andcryptocurrencies to receive a Swiss banking and securities dealer license inAugust 2019. SEBA offers a wide range of banking services meeting the highest securityand compliance standards. SEBA enables clients to invest, safekeep and trade indigital and traditional assets as well as borrow against these assets and issuetokens -- all out of an integrated and end-to-end banking platform.

www.seba.swiss