Tether Expands to Celo Blockchain, Boosting Stablecoin Use in Mobile Ecosystem

Tether has integrated its native USDT stablecoin onto the Celo blockchain, enabling ecosystem partners to leverage the stablecoin for various operations, including P2P payments, lending, and remittances. USDT is now live on Celo's mobile-first, EVM-compatible blockchain, bolstering the platform's stablecoin adoption and real-world asset utilization. Over 1,000 ecosystem partners in 150 countries, including Opera MiniPay's stablecoin wallet, will benefit from USDT's accessibility.

Tether Expands to Celo Blockchain, Bolstering Stablecoin Adoption in Mobile-First Ecosystem

New York, March 16, 2023

Tether, the leading operator of stablecoins, today announced the launch of its USDT stablecoin on the Celo blockchain, a mobile-first and Ethereum Virtual Machine (EVM)-compatible platform.

Enhanced Ecosystem Integration

The integration of USDT on Celo's mainnet strengthens the blockchain platform's adoption of stablecoins and real-world assets (RWAs). "This expansion brings USDT to Celo's robust ecosystem with over 1,000 partners in 150 countries," said the Celo Foundation in a blog post.

Notable partners include Opera MiniPay's ultralight stablecoin wallet in Kenya and Ghana, providing easy access to financial services in underserved communities.

Partnership Leverages Celo's Strengths

Tether and Celo initially announced their partnership on March 11, with Tether CEO Paolo Ardoino expressing the significance of USDT integration in "bringing crypto to millions of people around the world." Ardoino highlighted Tether's plans to leverage Celo's unique capabilities to enhance USDT's usability and accessibility.

Celo Partners to Embrace USDT

Following the USDT launch on Celo, core network contributor cLabs revealed plans for a proposal that would establish USDT as the official gas fee token for the network.

Celo's ecosystem boasts over 1,000 builders across 150 countries, with over 20 partners set to utilize USDT for a range of use cases, including:

• On-chain savings
• Lending
• Peer-to-peer (P2P) transactions
• Remittances and cross-border payments

Partners Embracing Native USDT Support

Among the Celo ecosystem partners leveraging USDT's native support on the blockchain are:

• Ammer Pay: Point of sale platform
• Bitmama: Crypto-fiat exchange
• Yellow Card: Regulated stablecoin on/off ramp
• HaloFi: DeFi platform

Conclusion

The launch of Tether's USDT on the Celo blockchain is a significant step forward for both platforms. Tether's stablecoin expertise and Celo's mobile-first approach create a powerful combination that will accelerate the adoption of digital assets among new and existing users worldwide.