The Celo Foundation announced on the 30th that it will issue USDC worth $26 billion (approximately 35 trillion won) to the CELO network in partnership with stablecoin issuer Circle. The Cello Foundation explained that through this, it has been able to provide Cello network users with a stable value storage method using digital dollars. It is expected that this partnership will promote cross-border payments and P2P transactions in developing countries and promote the transition to digital assets.

Cello is recognized in the Web3 and blockchain communities as a leader in regenerative finance (ReFi) that prioritizes financial sustainability, and has more than 1,000 diverse projects in more than 150 countries. In particular, Cello is focusing on the RWA market, and recently RWA marketplace Untangled Finance and credit platform Huma joined the Cello network. Isha Varnish, head of strategy at Sello Foundation, said, “Sello is making a lot of efforts to utilize cryptocurrency in real life,” and added, “We are happy that this partnership will allow us to introduce more RWA to Selo on-chain.”

Cello is focusing on the real asset tokenization (RWA) market using blockchain technology. RWA refers to tokenizing tangible and intangible assets that exist in reality, such as real estate, artwork, government bonds, copyrights, etc., by uploading them to the blockchain network. . Through this, Cello was able to operate the real asset market in a more transparent and efficient manner by combining it with blockchain technology. CLabs, an organization dedicated to developing the Celo ecosystem, will also propose to the community a governance vote to allow transaction fees (gas) to be paid in USDC.

This partnership between the Cello Foundation and Circle is driving financial innovation through the real-world application of blockchain technology and digital assets. Through this, Sello is expected to play an even more important role in the future global financial market. Through these efforts, Cello is making continuous efforts to ensure that cryptocurrency and blockchain technology have a positive impact on real society, and through this, it is contributing to innovation and development in the financial sector.