Celo is developing a mobile-first blockchain infrastructure as well as a suite of financial tools that anyone with a basic smartphone can use. Using internationally accessible technology, value can be transferred faster and cheaper than traditional bank wires on this platform. Because cryptocurrencies are totally programmable, they can be used to develop a wide range of financial services without the need for costly intermediaries.
The Celo network includes a stability protocol that can support an ecosystem of stable value currencies such as the Celo Dollar, regional currencies, commodity-based stablecoins, and others. The cLabs team designed the Celo Wallet, which allows sending stable currencies as simple as texting. Because Celo is totally open-source, developers may work together to create financial applications and services that will empower people all over the world.