Celo Network announces partnership with Circle's USDC.Celo Network announces partnership with Circle's USDC.

Key Developments:

  • Celo Foundation’s Partnership with Circle
  • Launch of USDC on Celo Network
  • Potential Inclusion of USDC in ERC-20 Gas Currencies

(Berlin, Germany) —The Celo Foundation Tuesday announced a groundbreaking partnership with Circle, a leading stablecoin issuer, to introduce the USD Coin (USDC) natively on the Celo blockchain. This strategic collaboration is set to enhance the Celo ecosystem significantly, offering more flexibility and efficiency in financial transactions.

USDC: A New Asset for Celo-Based Projects
With USDC coming to the Celo platform, projects built on Celo can now leverage this stablecoin for various applications, including savings, lending, and cross-border payments. This integration marks a substantial step forward in diversifying the financial tools available within the Celo ecosystem.

Governance Proposal for ERC-20 Gas Currencies:
The inclusion of USDC in the roster of ERC-20 gas currencies on Celo is under consideration. cLabs, an entity associated with Celo, is expected to bring this proposal to the governance process. If approved, this move could further enhance the utility and reach of USDC within the Celo network.

Centrifuge Joins Celo’s RWA Ecosystem:
In related news, Celo’s rapidly growing Real-World Asset (RWA) ecosystem welcomed a new participant last week – Centrifuge, an onchain finance platform. Centrifuge specializes in tokenizing real-world assets, including Treasury bills and carbon credits, boasting over $500 million in total assets financed.

Leadership Insight:
Lucas Vogelsang, CEO and Co-Founder of Centrifuge, shared insights into the company’s vision and strategy in a recent Q&A. Stay tuned for the upcoming launch of pools on the platform, marking another milestone in Celo’s expanding RWA ecosystem.

Conclusion:
The partnership between the Celo Foundation and Circle, coupled with the addition of Centrifuge to the RWA ecosystem, underscores Celo’s commitment to innovation and diversity in its financial offerings. These developments promise to bring enhanced stability, utility, and growth to the Celo blockchain, further solidifying its position in the decentralized finance landscape.

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