Celo, Facebook Libra's competitor, brings total number of companies supporting to 75

Friday 8 May 2020 04:47 CET | News

Celo, a competing project to Facebook’s Libra project, has added 50% more new members to its alliance, bringing the total number of supporting organisations to 75.

Nevertheless, Coinbase Ventures, Anchorage, and Andreessen Horowitz are investors in both Celo and Libra. The Celo Foundation explained that the scope of membership remains focused on use cases, furthering the mission of financial inclusion, especially in Africa and Latin America, and adoption of Celo’s technology.

The Celo project was launched in March 2020 with 50 founding members. Since then, existing members have been working on various projects within Celo. For instance, Anchorage and Coinbase announced custody support for the Celo Gold token at launch. A portion of Celo block rewards will be donated to planting trees through Project Wren to support a carbon-neutral decentralised network. Clabs and Appen ran a microwork pilot in Kenya. Upright launched Celo Camp, a virtual accelerator program for sustainable businesses to be built on the Celo platform.

New members include Ankr, Althea, Bitfy, Blockchain Education Network, Coinfirm, Centrifuge, Dove Wallet, Dunia Pay, Grin, Hex Trust, Latamtech, Mobike, Mycash Online, Netki, Ontology, Paxful, Peixe, Positive Blockchain, Ribon, Transak, United Africa Blockchain Association, and Yellow. The foundation explained that any organisation sharing its mission can apply to join the alliance.
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Keywords: Celo, cryptocurrency, Libra, Facebook, descentralisation, financial inclusion, tokens, monetary system
Categories: DeFi & Crypto & Web3
Countries: World
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DeFi & Crypto & Web3

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