Financial Services


Celo is a platform for fast, secure, stable digital payments to any mobile number at a fraction of today’s cost. Celo is aiming to build a monetary system that creates the conditions for prosperity for all. It aims to remove the barriers for large-scale adoption of cryptocurrencies as means-of-payment. It is going to create a new platform to connect people globally and bring financial stability to those who need it most.

Rating: 4.2

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Web-resources:   Website
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Details Description Risks Full analysis Team

Detailed review

Stage of product development
No beta is available. The project is under development. The team have been working on for the past year.

Token description
ICO date
12.03.2019 - 12.03.2019
Token price
Fork of Ethereum.
Token distribution date
Consensus method
ICO currencies
Bounty camping
Token functions
Tokens would be mean of exchange within the ecosystem.

• The regulation is not ready for this project.


• The value of new stable cryptocurrency is unclear.


• The project does not organise ICO.

Full analysis

• The main focus of the project is emerging markets. Large populations around the world still do not have access to basic financial tools. The latest financial inclusion report by the World Bank Group shows that 1.7 billion people are still unbanked. Identity and financial inclusion are tightly linked.

• Another World Bank study shows that 1.1 billion people do not have an officially recognized form of ID which is often a requirement not just for opening a bank account but for claiming various other essential services, such as healthcare and education. At the same time, according to further research, two-thirds of the “unbanked” population now have a mobile phone, and smartphone adoption is rising quickly. While mobile money services have contributed to a significant increase in financial inclusion, they remain costly - more than 10% transaction fees in many cases—and fragmented, making cross-border transactions often challenging if not impossible. That is the key focus of Celo. They are going to build service with much less commissions and with greater opportunities for unbanked people.


• Celo will consist of two main parts. The first is a decentralized database that maps people’s phone numbers to public encryption keys, alphanumeric strings required for transacting in cryptocurrency. It would create a kind of financial system without any ID of the client. As a result, unbanked people would get an access to almost all range of financial service. Celo aims to remove the barriers for large-scale adoption of cryptocurrencies as means-of-payment. The first application launching on our platform is a social payment and money transfer app, aimed at developing markets.

• The second key aspect involves creating so-called stable-value coins that are pegged to generally non-volatile assets, such as the U.S. dollar. These stablecoins will serve as the system’s medium of exchange, as opposed to most part of cryptocurrencies, whose wild price swings tend to encourage holding behaviour and speculative investment. Celo would be efficient digital currencies that are secure, immutable, non-counterfeitable, and interoperable.

• Some of the innovation behind Celo spans the last 20 years, from researching peer-to-peer reputation systems, to building decentralized identity prototypes using semantic web technologies at MIT. With the rise of blockchain technology, powerful mobile phones, and higher global internet penetration, financial inclusion for everyone everywhere is now possible.

Business model

• The combination of Celo’s address-based encryption system and its stable-value tokens will enable a rich ecosystem of applications. The most important one is the following:

• Cash Transfers To Alleviate Poverty. Currently, the cost associated with delivering this form of aid remains high due to lack of The main identity and financial infrastructure as well as fraud and corruption. Billions of people remain unbanked and/or without a formal, legal identity and hence without a path towards prosperity. With Celo, anyone has access to a mobile wallet to receive payments.

• Celo makes it easy to send fiat-pegged digital payments to any mobile phone anywhere, in a censorship resistant manner. As a result, it’s become easy to make social payments, like sharing a lunch costs with your friend.

• Celo aims to be the world’s first truly accessible mobile cryptocurrency. Anyone with an Android smartphone can earn Celo currency into existence. Celo rewards users for powering its phone verification service by using a user’s excess phone plan capacity. As cryptocurrencies are becoming an integral part of the global financial infrastructure, Celo makes access to cryptocurrency itself much easier.


• Celo has great seed investors. The initial funding round was $6.5M. Top-tier investment funds have took part in that stage: Andreessen Horowitz, General Catalyst, Polychain Capital, Coinbase, Social Capital, and Lakestar, among others. Also, a number of high-profile angel investors are also backing Celo, including LinkedIn cofounder Reid Hoffman, Twitter and Square cofounder and CEO Jack Dorsey, Venmo cofounder Andrew Kortina, and former Citigroup chairman Dick Parsons. That proves the world-class level of the project.

• The project is not going to conduct ICO. As a result, no token metrics is available. Moreover, tokens could be mined by simple phone connection and also it could be distributed through social subsidies. As a result, it is almost impossible to acquire tokens for investments purposes.


• Celo has an extremely strong team of experienced engineers, entrepreneurs, designers, legal and policy experts, thinkers and researchers. Also, the project is supported by a great group of backers and advisors, including many C-level operators, investors, academics, and other experts across a wide range of fields, including finance, legal & regulatory, international payments, security, and cryptography.

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