RATE Group | Celo forms Alliance for Prosperity network to create cryptocurrency for remittances and …
82557
post-template-default,single,single-post,postid-82557,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Celo forms Alliance for Prosperity network to create cryptocurrency for remittances and …

11 Mar Celo forms Alliance for Prosperity network to create cryptocurrency for remittances and …

Posted at 16:51h in Cryptocurrency News by

[ad_1]

The Celo Foundation is announcing the Alliance for Prosperity, a cryptocurrency network that provides a digital currency for people who can benefit from financial access and inclusion.

The foundation has support from 50 global organizations, including the Grameen Foundation (which operates banks for people with limited funds), Mercy Corps, and venture firm Andreessen Horowitz. The idea is to build financial tools for 5.6 billion smartphone owners, including those who are among the world’s poorest citizens.

Chuck Kimble, head of business development at cLabs and head of the Alliance for Prosperity, said in an interview with VentureBeat that the Celo Dollar cryptocurrency, bouyed by an open blockchain platform, could be used to eliminate delays in payments of loans for people in need or cut the fees from remittance payments for immigrants, among other uses. The idea is to bring financial stability to those who need it most.

“The announcement is really exciting for us,”…

[ad_2]

Source link

Tags:
, , , , , , ,