Velvet exchange has no relation to wex.nz. It’s completely different project, that has all necessary legal background and licenses.

At the moment, the Velvet.Exchange site is functioning in test mode, after passing the full security check sheet, the auction will be officially announced.

As part of the platform functionality, the exchange function is implemented. The terms of trade commissions, the level of the BTC rate, as well as the connected payment gateways will provide an opportunity for arbitration transactions. In addition, soon we will give our customers the opportunity to use leverage, which will allow us to produce more high-profit trading. More information can be found in our blog post:
https://medium.com/velvet-exchange

Also we would like to pay your attention that our servers network use monitoring dozens of technical indicators, GSLB, multiple layers of protection for clusters env, multi-stage backups politic - all of it helps us to be sure for safety data & assets of our clients.