The Celo team announced via a tweet on Saturday that cLabs and eCurrency will work together to integrate central bank digital currencies (CBDCs) on the Celo blockchain. Thanks to this partnership, central banks launching CBDCs can use the Celo blockchain to gain access to DeFi products.
CLabs is the organization behind the Celo ecosystem, while eCurrency is the technology provider that enables central banks to issue CBDCs.
Celo is an open platform that supports various distributed applications, smart contract development and payments using e-mail addresses and phone numbers as public keys.
CELO is down by 8% in the last 24 hours and is currently trading at $3.392.