Crypto bank Anchorage Digital said it is adding custody for the Celo Euro (cEUR) stablecoin.
- cEUR, which tracks the price of the euro, is one of two stablecoins available on the Celo network, the other being cUSD which tracks the U.S. dollar.
- Anchorage has offered support for Celo's native token, CELO, since the mainnet's launch in May 2020.
- Celo is a payments platform using a proof-of-stake blockchain built on Ethereum. It is designed to support stablecoins and tokenized assets, using cellphone numbers to secure users' public keys.
- "Bringing institutional access to cEUR unlocks a critical capability for the Celo ecosystem," said Albert Wang, product partner at cLabs, a team working on Celo.
- Celo has raised more than $65 million to date from investors including Andreessen Horowitz, Coinbase and Jack Dorsey.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.