Celo issues Real-denominated stablecoin in Brazil

Celo issues Real-denominated stablecoin in Brazil

Source: Celo

Celo, a leading, carbon-negative, Layer-1 protocol with a rich ecosystem of Web3 applications, today announced the activation of an algorithmic, Brazilian Real-denominated stablecoin Celo Real (cREAL).

cREAL is the first stablecoin for mobile payments—beyond Celo USD and cEUR— that can be used for both centralized finance (CeFi) and decentralized finance (DeFi) apps and services on the open Celo blockchain.

Starting today, users can acquire cREAL on the popular Brazil-based cryptocurrency exchanges, FlowBTC, NovaDAX, and Ripio, one of the largest Latin American cryptocurrency exchanges. Bitfy and Coins, two widely adopted cryptocurrency wallets, have also integrated cREAL. Of note, NovaDAX, Ripio, and Bitfy have also listed the CELO native asset. Additionally, Celo’s ecosystem of DeFi projects supporting cREAL include: Moola Market, Ubeswap, Valora, Symmetric, Poof.cash, Heymate, Airswap, Celo.tax, Mento.finance, Celo Terminal, CeloWallet.app, and GoodGhosting.

“The rate of cryptocurrency adoption in high-growth markets—in particular Brazil—not only signals growing excitement for this new digital economy, but the advance of