Bitcoin Dips as Fed Holds Rates Steady

Celo Proposes 160M Token Allocation to Opera for Strategic Partnership

• Celo, an Ethereum Layer 2 chain, has proposed allocating 160 million CELO tokens to Opera, transitioning them from a distribution partner to a network stakeholder.
• The move follows the unification of cLabs and the Celo Foundation into Celo Core Co., aiming to streamline ecosystem development.
• Opera’s MiniPay wallet, integrated with Opera Mini, boasts over 13 million users across 66 countries, supporting significant onchain financial activity.
• Under the proposal, Opera would hold CELO long-term with governance influence capped at 10% of total staked CELO.
• The partnership targets growth in Latin America, Southeast Asia, and Africa with initiatives like crypto-linked payment cards and merchant integrations.

Celo’s proposal to allocate 160 million CELO tokens aims to deepen its relationship with Opera by enhancing user growth through MiniPay and expanding its reach in emerging markets. The strategic shift is designed to streamline operations and boost real-world usage of stablecoins and financial tools.