The Celo Alliance for Prosperity wants to speed up the adoption of the cryptocurrency as a means of payment and improve financial inclusion. 50 companies, including several members of the association Libra, joined the initiative.
In a press release, the Celo Foundation, the foundation in charge of ecosystem development Celo, announced the creation of the Celo Alliance for Prosperity.
The association will use technology blockchain to reinvent the future of money and create inclusive financial tools, "said René Reinsberg, the founder of Celo.
The alliance is backed by big names in the cryptocurrency industry like Anchorage, Andreessen Horowitz (who has invested in Celo and participates in Libra), Coinbase Ventures (Libra), Polychain Capital, Flexa, Blockchain.com, MoonPay, Abra or even Bison Trails (Libra).
The 50 participants committed to "support project development efforts, build infrastructure, implement use cases on the platform, integrate active Celo in their projects and collaborate in education campaigns in their communities to further advance the use of blockchain. "
The members of the Celo Alliance for Prosperity will be responsible for creating applications based on the Celo network aimed at fostering financial inclusion and "prosperity for all".
Celo launched two tokens: Celo Gold which verifies the transactions on its platform, and Celo dollar, a US dollar-indexed stablecoin backed by a reserve of Celo Gold and other digital assets.
The startup, which raised $ 30 million last year, is also working on a wallet allowing to transfer cryptocurrencies using only one phone number.
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