• Tether has added native USDT on Celo blockchain.
• Celo ecosystem partners across P2P payments, lending, and remittances will leverage the stablecoin in their operations.

Tether’s USDT is now live on Celo, a mobile-first and EVM-compatible blockchain.

USDT integration on the Celo mainnet bolsters the blockchain platform’s stablecoin adoption and real-world assets (RWAs).

“This expansion introduces USDT to Celo’s robust ecosystem with over 1,000 partners in 150 countries, including Opera MiniPay’s ultralight stablecoin wallet in Kenya and Ghana, among other countries,” the Celo Foundation said in a blog post.

Tether and Celo initially announced their partnership on March 11. At the time, Tether CEO Paolo Ardoino commented that USDT integration on Celo was a “significant step forward” in the company’s mission to bring crypto to millions of people around the world.

Ardoino noted Tether would leverage Celo’s unique capabilities to enhance Tether’s usability and accessibility.

Celo partners to tap into USDT

Following the USDT launch on Celo, core network contributor cLabs revealed plans for a proposal that will see the USDT stablecoin used as the official gas fee token.

Celo’s ecosystem counts more than 1,000 builders across 150 countries. More than 20 partners will tap into USDT for use cases such as on-chain savings, lending, peer-to-peer (P2P) transactions, remittances and cross-border payments.

Among Celo ecosystem partners looking to leverage the native USDT support on the blockchain include point of sale platform Ammer Pay, crypto-fiat exchange Bitmama, regulated stablecoin on/off ramp Yellow Card and DeFi platform HaloFi. 

The post Tether integrates native USDT on Celo mainnet appeared first on CoinJournal.

The post Tether integrates native USDT on Celo mainnet appeared first on CryptoSens.

• Celo price rose to intraday highs of $0.73 on Tuesday, with trading volume rising 139%.
• The price surge followed news of Celo Foundation and Google Cloud partnership to boost Web3 founders on the Celo blockchain.
• CELO price outlook suggests key hurdle is at $0.74 while immediate main support is around $0.56.

CELO price rose on Tuesday as the Celo Foundation and Google Cloud partnered to help accelerate further adoption across Web3. CELO price traded at lows of $0.65 earlier in the day, but shot to intraday highs above $0.73 as news of the partnership reached the market.

At the time of writing, the CELO/USD pair was up 7% with trading volume spiking 139% in the 24-hour period. 

The increased market activity had seen CELO price tick up 20% over the past week as well as turning positive in the 30-day period with about 2% of upside.

CELO price jumps to $0.73 after Celo/Google Cloud news

On Tuesday, the Celo Foundation announced a collaboration with Google Cloud, the cloud computing services arm of tech giant Google. Celo price rose after the news.

According to the Celo Foundation, the partnership will see Web3 founders and developers building on Celo benefit from workshops and computing services from Google. Per the foundation, Google Cloud has joined Celo’s founders’ program and will play a key role in boosting Web3-focused projects by offering credits for use across Google Cloud and Firebase platforms. 

Firebase is Google’s mobile platform that offers cross-platform SDKs for developers to build and ship apps.

Google Cloud’s core team is also set to provide mentorship and guidance to projects via Celo Foundation’s Founders in Residence program. The leadership efforts will also be available during Celo Camp, an eight-week virtual accelerator program, with Google Cloud now joining key supporters including Twilio SendGrid, HubSpot, and Coinbase Cloud.

What next for CELO price?

CELO traded at highs of $0.92 in early February. At current price levels of $0.69, Celo is more than 90% off its all-time high of $9.82 reached in August 2021.

As for the short term technical outlook for CELO, the latest price is above the coin’s 200-day simple moving average (SMA). However, after hitting intraday highs above $0.73, the retreat below 70 cents has CELO/USD below the 50-day SMA.  

The post CELO price surges as Celo Foundation and Google Cloud announce Web3 partnership appeared first on CoinJournal.

The post CELO price surges as Celo Foundation and Google Cloud announce Web3 partnership appeared first on CryptoSens.