Celo raises $20m through venture funds of its native sale coin
Celo launches Valora a P2P remittance mobile app
Celo price begins to climb on the back of the announcement
Celo begins to moon as investors provide equity
Over the past few weeks Celo has been meeting with Venture funds seeking investment for it's latest dapp, Valora.
Valora allows users to send cryptocurrancy to anyone at anytime with low fees. Celo boasts that it's block chains hosts fees as low as 0.01c making it a leader in payment options.
Celo reported it currently has 28,000 users with the majority in the Philippines and Brazil and reporting that a number of growing merchants are joining the chain accounting for close to 100,000 transactions.
The Valora Dapp doesn't require users to register and users can commence accepting and sending Celo just by downloading the dapp. On boarding is quick and easy without complex processes.
Celos price began to increase since the launch of Valora dapp, with a marketing campaign lined up to commence shortly and limited competition in the way Celo is looking good to advance in this section of the market.
Celo is currently in the process of releasing an aspect of the dapp that will allow Bitcoin holders to participate in Defi networks seems to be drawing attention. Much like wrapped Bitcoin Celo has a version tBTC a wrapped version of the coin as an ERC20 token.
Time will tell how Celo performs and if the market will support it's advancement in this space.