DeFi Creators of Celo Project Plan to Launch Stablecoin

The coin will be pegged to the euro. A spokesman for cLabs leading the development of the protocol said that there has been a "spike in activity" in the Celo community regarding the launch of the euro stablecoin.

The Celo platform already supports the dollar-pegged cUSD stablecoin. Celo Dollar is priced at $0.996650 and has a market cap of around $28.5 million.

The new cEUR token will be launched in March. The testing of stablecoin’s governance in the blockchain is underway. Having multiple crypto assets will be more useful for the stability of the platform. It is also beneficial to meet the needs of the community.