Opera Teams With Celo To Integrate First Stablecoins In Its Crypto Wallet

Celo, an open-source ecosystem of technologies built specifically for mobile devices, has announced that Opera, the browser with more than 380 million global users, will integrate Celo Native Asset (CELO), Celo Dollar (cUSD), and Celo Euro (cEUR) stablecoins in its crypto wallet.

This integration enables millions of Opera users, many based in emerging markets, to make purchases, send peer-to-peer remittances, trade, or cash in and cash out with Celo’s native asset or cUSD stablecoin from the browser’s built-in crypto wallet.

cUSD and cEUR are both stable digital assets that track the U.S. dollar and Euro, respectively. With cUSD and cEUR, users can transfer value and engage in global financial activities faster, cheaper, and more easily on their smartphone. Stablecoins can mitigate the risk of cryptocurrency volatility, helping to ensure that a transfer’s value tracks a fiat value when sent and delivered. Both the Celo Dollar and Celo Euro are supported by multiple digital assets in the Celo Reserve, including BTC and ETH.

“As the first major browser to integrate a crypto wallet, Opera is pioneering a familiar tool – a mobile browser – to put usable crypto directly in the hands of real people,” said Rene Reinsberg, co-founder of Celo. “Opera’s focus on key growth markets, in particular the US and EU, Africa, Southeast Asia and LATAM, will enable these mobile-savvy communities to interact with Celo assets and the Celo ecosystem with ease. Millions of people will now have access to new savings, P2P payments, and cash in, cash out services, in addition to major stablecoins.”

This shift to stablecoins indicates Opera’s push toward crypto as a real-world use case for people across its focus markets: US and EU, Africa, Southeast Asia, and LATAM.

“Celo is putting financial apps and services into the pockets of millions of people, for whom their phone is the most important device that they use. This mobile-first approach directly aligns with the needs of our hundreds of millions of mobile users,” said Cuautemoc Weber, Head of Crypto and VP Business Development and Mobile at Opera. “We chose to integrate cUSD and cEUR as our first stablecoins, as a large part of our user base lives in markets like Africa, the Philippines, and LATAM, where access to financial services—such as cash out options—is limited, fiat volatility can be challenging, and remittance costs are high. Celo makes this possible with just a mobile phone number.”

Source: Read Full Article