Libra Association Rival Celo, Adds 20+ New Members to the Alliance for Prosperity

Celo Foundation, Records A 50% Increase In Membership Since The March Announcement, Including Grin, Ontology & Paxful

Celo Alliance, a rival to Facebook’s Libra, has said that its membership surged by 50% since it was announced in March. At that time, the Alliance highlighted 50 founding members committed to the prosperity of its community through blockchain tech. This number has now grown to 75 members according to a medium post by the Celo Foundation on May 5.

The new entities will add to the strength of Celo’s current membership which includes a distribution of stakeholders from industries like blockchain, international remittances, policy, and communication experts. Some prominent firms that were already onboard Celo’s Alliance are AlphaWallet, Anchorage, Polychain, Mercy Corps, and Bison Trails.

They will now be joined by the likes of Paxful, Ontology, Mobike, and Dunia Pay amongst others. Head of Celo Alliance for Prosperity, Chuck Kimble, has since expressed their optimism following the growth,

“We are excited to see the Alliance grow by 50% since our initial announcement in March, with organizations committed to creating prosperity, especially in Africa and Latin America.”

The full list of new members:

  • Ankr
  • Althea
  • Bitfy
  • Blockchain Education Network
  • Coinfirm
  • Centrifuge
  • Dove Wallet
  • Dunia Pay
  • Grin
  • Hex Trust
  • LatAmTech
  • Mobike
  • MyCash Online
  • Netki
  • Ontology
  • Paxful
  • Peixe
  • Positive Blockchain
  • Ribon
  • Transak
  • United Africa Blockchain Association
  • Yellow

The Celo Alliance Blockchain Value

This initiative was pioneered to attract like-minded individuals looking to leverage blockchain tech and eventually benefit from interoperability. Ideally, the members are committed to building around Celo’s blockchain tech and using the platform’s digital assets to power the networks,

“The goal of the Alliance is to bring organizations together to help with the shared vision of making digital assets more accessible and useful in the real world.”

According to Celo’s Alliance launching blog, the founding members have a combined reach of over 400 million people. It, therefore, presents an opportunity for the alliance to implement varied blockchain use cases ranging from affordable remittances, delivering humanitarian aid to powering mobile and online work.

Celo’s Work in Progress (WIP)

While Libra is still facing regulatory uncertainty, Celo seems to have capitalized on this shortcoming to their advantage. Last month, Celo allocated $700,000 in grants to startups building on their blockchain network.

Notably, this process was quite competitive given the foundation received over 50 grant proposals from different teams representing around 16 countries. The Celo Peace & Prosperity award was also awarded to an initiative dubbed ‘Abundance’ in the recently concluded Blockchain for Social Impact incubator.

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Edwin Munyui
Edwin Munyui
Edwin is a FinTech enthusiast with a particular interest in blockchain technology and cryptocurrencies. He has worked as an author in the blockchain space since 2017 and enjoys creating content that both crypto veterans and newbies can understand. His simple writing style and financial market knowledge have made him a reputable fundamental and technical analyst with the ability to handle any topic around blockchain and crypto over the years.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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