While waiting for the digital euro, the crypto euro is coming. Launching it is Celo, the blockchain-based app in an open source key focused on the bank remittances sector, which presented a new stablecoin anchored to the euro, Celo Euro.
Celo represents a new face of decentralized finance (DeFi) and a non-speculative approach to blockchain and is designed to make financial services accessible to the two million users who today are excluded from the traditional financial system. The new Celo Euro (cEUR) stablecoin will be available on the platform in the coming weeks. T he realities of stablecoins linked to the euro already exist several.
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At the same time, the company based in San Francisco and a capitalization of around 800 million has announced the entry of Deusche Telekom into its capital with an unspecified investment. In addition, the German tlc operator has also invested in the digital tokens used on the platform, following the example of Tesla who converted part of its treasury into cryptocurrencies.
The participation will be carried out by the Telekom Innovation Pool (TIP), the strategic investment fund of Dt assisted by Deutsche Telekom Capital Partners (Dtcp).
Deutsche Telekom will also manage the infrastructure of the entire Celo ecosystem. The subsidiary T-Systems MMS will operate as a “validator” using Open Telekom Cloud.