• Latest
A16z, Polychain Invest $25 Million in Crypto Payments Startup Celo

A16z, Polychain Invest $25 Million in Crypto Payments Startup Celo

April 3, 2019
6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

März 31, 2023
Judge denies SEC motion to keep Hinman docs secret in Ripple case

Judge denies SEC motion to keep Hinman docs secret in Ripple case

März 31, 2023
The ultimate guide to Miami – Cointelegraph Magazine

The ultimate guide to Miami – Cointelegraph Magazine

März 31, 2023
Dr. Jane Thomason – Cointelegraph Magazine

Dr. Jane Thomason – Cointelegraph Magazine

März 31, 2023
1658007797 celsius is bankrupt with 12b balance sheet hole su zhu.jpg

Celsius is bankrupt with $1.2B balance sheet hole, Su Zhu returns to Twitter and OpenSea purges 20% of employees: Hodler’s Digest, July 10-16

März 31, 2023
6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

März 31, 2023
Jed McCaleb empties XRP wallet after eight-year selloff

Jed McCaleb empties XRP wallet after eight-year selloff

März 31, 2023
Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

März 31, 2023
The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

März 31, 2023
SEC objects to XRP holders aiding Ripple defense

SEC objects to XRP holders aiding Ripple defense

März 31, 2023
Blockchain technology is transforming the real estate market – Cointelegraph Magazine

Blockchain technology is transforming the real estate market – Cointelegraph Magazine

März 31, 2023
1658612147 nfts banned in minecraft sec lists 9 tokens as securities.jpg

NFTs banned in Minecraft, SEC lists 9 tokens as securities and 3AC founder blames cockyness for company meltdown: Hodler’s Digest, July 17-23

März 31, 2023
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Business

A16z, Polychain Invest $25 Million in Crypto Payments Startup Celo

coinnewsdaily by coinnewsdaily
April 3, 2019
in Business
0
A16z, Polychain Invest $25 Million in Crypto Payments Startup Celo
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Andreessen Horowitz’s cryptocurrency fund A16z Crypto and venture capital firm Polychain Capital have invested $25 million in cryptocurrency payments startup Celo.

Celo announced Tuesday that the two investors have purchased $15 million and $10 million in the project’s Celo Gold tokens, respectively.

Related articles

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses

Juli 26, 2022
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

Mai 6, 2022

The token-based funding effort also saw participation from “several other leading institutions” from across the world, Celo said, with the amounts not being disclosed.

Celo’s protocol is designed to be mobile-friendly and “ultralight,” allowing funds to be sent to cellphone numbers. The Celo Gold token it describes as a “deflationary” cryptocurrency that cuts down on price volatility. The startup also offers another token, the Celo Dollar, which is a stablecoin pegged to the U.S. dollar.

On the business level, it aims to enable easier remittances, cash-transfer programs and micropayments through its open-source platform, taking an initial focus on helping unbanked or underbanked people.

The firm said:

“We strongly believe that anyone, regardless of their location or socio-economic status, should have access to basic financial tools for storing and transmitting currency.”

Celo has recently run pilots of the “easy-to-use wallet app” in Argentina and Tanzania enabling “verified” users and merchants to send and receive small payments. It is planning to release a public testnet of its platform this summer, according to the announcement.

It’s also been attracting some notable talent recently. Chuck Kimble, former head of financial institution partnerships at Circle, joined Celo in February as head of strategic partnership. And, in September, former Ripple general counsel Brynly Llyr took on the same role at Celo.

In Tuesday’s announcement, the firm added that it now has over 40 contributors to the project internationally, drawing expertise from the World Bank Group and the UN; tech firms like Google, Microsoft and Apple; and financial companies such as PayPal and Morgan Stanley. Academia is involved too, and individuals at MIT, Stanford, Harvard and Berkeley are also assisting.

Featured image courtesy of Celo 

Credit: Source link

Tags: BusinessCryptoCrypto Business
Share76Tweet48
Previous Post

LocalBitcoins to Reduce Anonymity as Part of Regulatory Compliance Effort

Next Post

Nimiq Acquires 9.9% Stake in Germany’s WEG AG to Become Bank’s Third Crypto Firm Owner

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses
Business

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses

Juli 26, 2022
ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

Mai 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin
Alt Coin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
Load More
Next Post
Nimiq Acquires 9.9% Stake in Germany’s WEG AG to Become Bank’s Third Crypto Firm Owner

Nimiq Acquires 9.9% Stake in Germany's WEG AG to Become Bank's Third Crypto Firm Owner

Kategorien

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • 6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine
  • Judge denies SEC motion to keep Hinman docs secret in Ripple case
  • The ultimate guide to Miami – Cointelegraph Magazine
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

Please enter CoinMarketCap Free Api Key to get this plugin works.
✕
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev