Celo is a blockchain platform focused on building “a financial system that creates the conditions for prosperity for everyone”. The network is designed mainly for mobile users. It looks to benefit from the rise of mobile-driven markets-such as the $87B digital remittance space, the $248B gig economy, and the $1.4T mobile POS market-among others. It also aims to help make DeFi easier to access for the 6+ billion smartphones already in use worldwide.

More specifically, Celo wants to reduce friction when getting started with blockchain by letting people join the Celo ecosystem using only a mobile number. Through this approach, Celo’s underlying tech supports the low-cost, quick, and efficient movement of both native and non-native digital assets-ranging from crypto to CBDCs (Central Bank Digital Currencies)-across mobile devices, networks, and countries. 

The Celo Mainnet went live in 2020, and the ecosystem has expanded to back more than 1000 projects across over 100 countries. CUSD, known as Celo Dollars, is a stablecoin pegged 1:1 to the USD. It can be used similarly to other stablecoins-for example, sending value globally, paying for everyday purchases, or borrowing funds. It is backed by crypto as well as natural assets.

The CELO token is the platform’s built-in utility asset. It can be used for network governance participation and to pay transaction fees on the Celo network. It also acts as a key asset for stabilizing and supporting the platform’s stablecoins, including cUSD and cEUR.

What are Celo Dollar’s key features and how does it work?

Inside the CELO ecosystem are the Celo blockchain and the Celo Core Contracts. The blockchain enables decentralized applications to run smart contracts and carry out transactions. To support its objectives, Celo makes use of a modified version of the widely used Proof-of-Stake (PoS) consensus model. 

What is noteworthy about Celo?

Celo uses a community-first approach to blockchain, with the goal of setting up “conditions for prosperity for everyone”. As a result, the network regularly partners with teams that share its mission and direction. This includes work on technologies that help strengthen and grow local communities-for instance, backing local commerce and local economies. Several applications on Celo also support or promote Universal Basic Income, including GoodDollar, Moola, and Aave.

Celo is also described as the first carbon-negative blockchain, and it continues to run programs and build partnerships intended to boost awareness of global climate change and the environment. This includes The Climate Collective, a group of companies aiming to apply web3 tools to address climate change. Organizations involved in the effort include Green Wold, Kolektivo, Moss, and many others.

How can CUSD be used?

The Celo Dollar is the first stable asset within the Celo network. It maintains a 1:1 peg to the USD. It was designed to function as an everyday digital payments option, with a strong focus on usability and accessibility. cUSD is positioned as the main payment rail throughout the Celo ecosystem. Because of this, applications created on top of the Celo Network are compatible with cUSD and support multiple use cases.

This includes: 

Where can you buy CUSD?

CUSD can be traded on the CEXs and DEXs listed here. Among the most popular platforms with the highest liquidity are Bittrex, Gate.io, and KuCoin. The CUSD price may differ depending on the exchange selected and broader market conditions. For the latest and historical CUSD market pricing, check the price charts on this page.