Celo announces its latest integration with PayU, one of the largest payment providers for emerging markets. The first purchase of its kind, the alliance allows the company’s stable coin, cUSD, to be traded and accepted as payment by over 450,000 merchants and retailers across the globe.
The new collaboration solidifies Celo’s position as a safe up-and-coming scalable cryptocurrency. In its attempt for mass adoption, the company has taken every effort to simplify its processes so that all users, from beginner investors to experienced traders, can use its digital token with ease.
According to the latest financial data, many people are still wary of cryptocurrency, citing a lack of knowledge as the biggest reason why they do not invest in it. Bitcoin and Ethereum, the two most traded cryptocurrencies, are still considered to be high-risk investments, with little assurance of their adaptability amid the fluctuating financial market.
Celo addresses these issues by being a next-generation stable coin powered by blockchain technology. The goal is to overcome the volatility challenges of other cryptocurrencies by offering better transparency, reduced transaction times, and near-instant trading. Further details can be found at https://celolaser.com/do-more-with-your-crypto-beyond-the-buy-and-sell-buttons
Its first stable coin, the Celo Dollar (cUSD), was launched in June 2020 and enables users to send and receive money from a mobile phone without a tied bank account for a minimal fee. To maintain its stability, cUSD is supported by a reserve of crypto derivative products, including CELO, the company’s native asset.
This added layer of protection means that users can openly trade their digital coins as they would with traditional banking, except through a decentralized platform. Celo’s stable architecture makes it a mobile-friendly blockchain, particularly designed for faster and lighter transactions.
The decentralized currency is also resistant to inflation and offers investors a stable and reliable way to protect their assets for the next few years or even for the long term. The stable coin helps users avoid the erosion of their savings through a highly adaptive, open-sourced digital wallet.
Interested parties can find more information by visiting https://celolaser.com
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