Celo is an open-sourced Proof-of-Stake (PoS) blockchain designed to support stablecoins and tokenized assets with an algorithmic reserve-backed stability mechanism. The Celo Alliance is a non-profit organization whose mission is to facilitate financial inclusion by developing a blockchain-based financial ecosystem.
The Celo platform utilizes its native token CELO, for the following:
- fees for sending assets on the network
- manage the price stability of the Celo Dollar (cUSD)
- propose and vote on protocol changes
- join the network as a validator
The Trust Wallet Development Team is happy to announce that the Celo blockchain is now supported by the app. Update your app to at least version 6.15 on iOS and version 4.10 on Android to be able to send and receive CELO, as well as, other Celo assets, cUSD and cEUR.