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Celo is an open platform that offers financial tools to mobile phone users.


Celo is a developer of a mobile-first blockchain platform intended to offer financial tools to anyone with a mobile phone. The Celo ecosystem includes a decentralized, proof-of-stake blockchain technology stack, a native asset, a stablecoin, and the Celo Alliance for Prosperity. Since the 2020 introduction of Mainnet, Celo's network has supported over 1000 projects from builders, developers, and even artists, who are able to create new applications and issue digital currencies in over one hundred countries.

Celo was founded on the belief that blockchain technology can solve real-world problems, such as lack of access to sound currency or friction for cash-transfer programs to alleviate poverty. The company operates on a theory of change framework, which describes how short-term action can lead to long-term social impact. In this framework, Celo aims to create the conditions for prosperity.


Celo is a mobile-first, carbon-neutral blockchain that offers decentralized finance tools and services intended to be accessible to anyone with a mobile phone. The blockchain is developed to be interoperable and cross-chain compatible to support Celo's vision for inclusivity. This is done in part by mapping wallet addresses to phone numbers to allow anyone to send payments as easy as sending a text. This uses a decentralized address-based identity layer to maintain security. And mobile participants can earn rewards for securing and maintaining the system.


CELO is a platform-native asset that supports the growth and development of the Celo blockchain and ecosystem. The CELO is a utility, reserve, governance, and staking asset, and part of Celo's multi-asset system. CELO holders can earn rewards, stake with validators, and vote on proposals to shape the future of Celo. CELO has a fixed supply and variable value that is connected to the use of the platform, governance, and amount of stablecoins in use.

CELO's primary function is stabilization, serving as the primary reserve asset in Celo's stability mechanism. Further, CELO plays a role in the governance of the Celo platform and technology. And the CELO asset is used to stake as a signal of participation in confirming transactions on the blockchain, as part of Celo's Proof-of-Stake (PoS) consensus protocol.

Platform-native stablecoins (cUSD, cEUR)

Named for the currencies they follow, Celo Dollars (cUSD) and Celo Euros (cEUR) are stablecoins that allow users to share value on their mobile phone. These stablecoins unlock access for everyday uses, like remittances and cross-border payments, paying online, and transferring value within exchanges and in markets. These coins use an algorithmic stabilization mechanism, are publicly verifiable in that stability, and offer an average network transaction fee of less than $.01.

Using the payment applications and mobile solutions built on Celo, users can transfer stable value globally using only a mobile number, while retailers can accept either cUSD and cEUR as stable forms in payment online or in-person. The stablecoins are designed to not have high transaction fees or expensive third party intermediaries for peer-to-peer payments. Further, these coins allow users of Celo's payment applications to send and receive money internationally or locally on a mobile phone.

Decentralized Applications
Celo Wallet

The Celo Wallet is a desktop cryptocurrency wallet offered by Celo for use on Celo's network. The wallet, as other cryptocurrency wallets, allows users to manage funds, either in browser or as a desktop application. Further, the Celo Wallet supports ledger and staking. Celo's coins are also compatible with other wallets, including Valora, Metamask, Abra, and Opera. And are available in cryptocurrency exchange wallets including Coinbase, Coinbase Pro, Binance, Coinlist, OkCoin, and Bittex.

Celo Terminal

The Celo Terminal is a single place to manage accounts and access to Celo's decentralized applications. The terminal is available for download on MacOS, Windows, and Linux and it supports Celo applications and Celo cryptocurrencies. The Mento exchange is built into the Celo Terminal, allowing users to exchange assets. Further, it offers automatic staking with Celovote. Users can vote on governance through the Celo Terminal, and it offers ledger wallet support.


Moola is a mobile-first platform for borrowing and lending assets on Celo. This application, developed by Celo, is intended to democratize access to credit and yield and allow users to start earning interest on CELO, cUSD, and cEUR, while offering lending services to other Celo participants.

Public Sector on Celo

Celo offers a program for central banking authorities, governments, and related agencies to explore options for issuance in permissioned environments, or processing social payments in the real world. Through this program, these entities are offered a chance to explore what is possible on blockchain with Celo, are able to gain insight from Celo's engineers, economists, public policy personnel, and compliance specialists. As well, Celo offers Provo, which is a free sandbox for public sector experimentations on Celo.

Central Bank programs and related use cases include digital currencies built on blockchain, and what it would mean for central banks to implement digital currencies; scalable cross-chain interoperability, as any central bank issued currencies would require this level of interoperability; financial inclusivity research; policy and stimulus programs for targeted and effective economic stimulus programs; stability mechanisms for maintaining digital currencies stability; and the regulations applicable to stablecoins and decentralized financial technology to address the risks associated with these technologies.

The public sector program is supported by industry partnerships, including participation in pilots, committees, and working groups focused on increasing the conditions of prosperity globally. These partnerships include the following:

  • Chamber of Digital Commerce
  • World Bank Group
  • ITU
  • Blockchain Association
  • Blockchain for Europe
  • EUBlockchain
  • World Economic Forum
  • Alliance for Prosperity
  • Digital Euro Association


February 10, 2021
Celo raises a $20,000,000 venture round from Andreessen Horowitz, Coinbase Ventures, Electric Capital and Greenfield One.
May 19, 2020
Celo's cLabs launches mainnet after raising $40 million.
May 12, 2020
Celo raises a $10,000,000 initial Coin Offering.
April 2, 2019
Celo raises a $30,000,000 venture round from 9Yards Capital, Greenfield One, Polychain Capital and a16z crypto.
June 25, 2018
Celo raises a $6,500,000 venture round from Arianna Simpson, Polychain Capital, Reid Hoffman, SV Angel, Social Capital, Version One and Vijay Pandurangan.
Celo was founded by Charles Nichols, Marek Olszewski, Rene Reinsberg, Sep Kamvar and Sepandar Kamvar.

Funding Rounds



Further Resources


A Look at the Celo White Paper - The Celo Blog - Medium

Claire Belmont


April 10, 2019

Celo (CELO) Staking - All information about Celo staking - DropsEarn

Drops Earn


February 10, 2022

Celo explained in under 5 minutes. (cryptocurrency)


October 30, 2021

Celo's cLabs Launches Mainnet After Raising $40 Million

Turner Wright


May 19, 2020

How to stake on Celo |


March 4, 2021


Michael McSweeney
July 27, 2021
The Block
a16z backs $20 million round for Valora, a digital wallet built on Celo
Ryan Weeks
July 21, 2021
The Block
PayU, the payments business of the investment group Prosus, has formed a partnership with Celo, the decentralized payments protocol.
Ryan Weeks
July 21, 2021
The Block
PayU, the payments business of the investment group Prosus, has formed a partnership with Celo, the decentralized payments protocol.
Omar Faridi
June 27, 2021
Crowdfund Insider
Celo, an blockchain ecosystem for DeFi, reveals that CELO native token, and cUSD, cEUR stablecoins added to Opera's crypto wallet.
JD Alois
June 1, 2021
Crowdfund Insider
Click HERE to find out ⭐ Token Tuesday: Digital Bank Revolut Adds More Digital Assets for Trading. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.


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