Celo is a mobile-based cryptocurrency financial solution. It provides a financial solutions to problems such as financial inclusivity, global money transfer, interoperability between different banks and institutions, and transparency. The Celo platform provides an interoperable, cross-chain compatible for native and non-native digital assets, whether publicly or privately, to circulate at extremely low cost, high speed, across devices, carriers and even countries. Celo supplies stablecoins that can be accessed, sent, transferred across mobile devices.
CELO is the native digital asset on Celo platform. CELO serves two main purposes, as a stability mechanism for Celo stablecoins and as governance token for the platform. CELO is vital for the health of Celo stablecoins such as cUSD and cEUR through Mento mechanism. At the same time, owners of CELO have rights to vote for proposals and decide on the future of CELO. In some ways, holding CELO supports the development and growth of the platform. CELO is a Proof of Stake-based token, with a maximum supply of 1 billion tokens.