सर्वत्रासौ समस्तं च वसत्यत्रेति वै यतः ।ततः स वासुदेव इति विद्वद्भिः परिपठ्यते ॥
In plain words
He dwells everywhere, and everything dwells in Him. That is why those who know call Him Vāsudeva.
Close to the Sanskrit
Since indeed He dwells everywhere, and everything dwells here in Him — for that reason He is recited by the learned as 'Vāsudeva'.