Hassan Maishera
On Wednesday, the Celo Foundation announced via X that USA₮ is now live on the Celo ecosystem.
The US Dollar-backed stablecoin issued by Anchorage and supported by Tether is deployed on Celo, the most widely adopted network for stablecoin payments — with mint, burn, and gas currency support on day one.
Celo is the second chain across all of crypto with native USA₮, after only Ethereum.
“USA₮ brings a US dollar stablecoin designed to comply with federal regulations to the rails millions of people already use every day for remittances, savings, and commerce,,” said Marek Olszewski, Celo co-founder and Celo Core Co. CEO. “Bringing Anchorage and Tether’s trusted, compliant stablecoin infrastructure to Celo is the critical next step in our work building a trillion-dollar onchain economy that is more accessible, efficient, and equitable than the systems that came before.”
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), the CELO governance asset, and several Mento stable assets (cUSD, cEUR, cREAL) that enable 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 up 2.17% in the last 24 hours and currently trades at $0.06302.
