Hassan Maishera
On Wednesday, the Celo Foundation announced via a blog post that Textile, the self-service platform for onchain private credit, is developing a global lending pool on Celo.
By bringing on Tala, the AI-native credit infrastructure that connects global capital to the global majority, the pool will expand access to emerging market borrowers, with the goal of reaching users through non-custodial stablecoin wallets such as MiniPay, built by Opera on Celo.
The onchain pool, targeting $25M in committed liquidity, structured by Tribeca Park Capital, introduces an open marketplace structure where multiple lenders compete to finance the same borrowers, replacing the closed bilateral facilities that have historically priced credit in emerging markets.
Built on Celo, the platform makes borrower identity portable, lets capital compete for yield, and allows reputation and repayment history to compound across pools rather than resetting at each facility.
Celo is a carbon-negative, permissionless, blockchain with a rich ecosystem of global partners building innovative Web3 dapps to support a more inclusive financial system.
Accessible to anyone with a mobile phone, the Celo ecosystem consists of a decentralized, proof-of-stake blockchain technology stack (the Celo platform), CELO governance asset, and several Mento stable assets (cUSD, cEUR, cREAL) that allow for real-world users to use digital assets.
The open source Celo mainnet launched on Earth Day 2020. The Celo community passed an indicative on-chain governance proposal (temperature check) to have Celo migrate to an Ethereum layer-2. Google Cloud, Deutsche Telekom, Telefonica, and many others run validators on the Celo Platform.
Today, the Platform supports 1,000+ projects in over 150 countries that are building on Celo to help create the conditions of prosperity for all.
CELO is down 1.2% in the last 24 hours and currently trades at $0.09160.
