Decentralized financial platform Celo Dollar(cUSD) announces the launch of stable currency Celo Dollar(cUSD)

Rhythblockbeats -- On June 29, decentralized financial platform Celo announced the launch of the Celo Dollar(cUSD), a stable currency that is now in circulation. This milestone will bring stable assets to the Celo ecosystem, a new financial system that anyone with a mobile phone can access.

According to the article, cUSD's application scenarios include digital remittance market, gig economy and peer-to-peer lending market. The team believes that with the Celo platform based payment solution, retailers can accept cUSD digitally, online or in person, while avoiding high credit-card processing fees. MugglePay, for example, is one of the first solutions, enabling more than 2,400 small businesses and online merchants to upgrade their payment systems and easily accept encrypted assets, including cUSD.

However, this article explains the purpose and outlook of cUSD, and more details are yet to be disclosed by the team. Rhythm BlockBeats believes that a Libra cast is hard not to raise doubts about Celo's ambitions, given that Celo's Alliance for Prosperity also brings together members such as multiple investment houses or companies. Today, Libra has been delayed by regulatory pressures and has been modified to accommodate them, potentially giving institutions such as the Alliance for Prosperity a chance to grow.

The original link: https://medium.com/celoorg/celo-dollars-powerful-new-digital-money-in-circulation-b4147eda2d10

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