TL;DR
Celo is on a path to changing into the ‘Visa/Mastercard’ of stablecoin funds, making them low-cost, accessible, and hands-off (throughout all main chains).
Full Story
$USDT is launching on Celo — which can really feel like déjà vu, trigger $USDC launched there simply two weeks in the past.
Right here’s why we’re weirdly intrigued by one thing as boring as stablecoin integrations:
It appears like Celo is making an attempt to grow to be the Visa (or Mastercard) of stablecoin funds — i.e. low-cost, accessible, and hands-off.
Celo is designed particularly for quick and low-cost funds on Ethereum (them and each different layer 2 on the market).
So many people are engaged on it, trigger proper now, for those who purchase one thing utilizing $USDT through the primary Ethereum community – you’re going to be paying a legal quantity of transaction charges.
Assume: anyplace between $50 and $500.
When you did the identical factor through Celo, you’d pay round $0.001 for that very same transaction, no matter ETH’s worth – in actual fact, it’ll do it for you throughout any $USDT pleasant blockchain (like Tron, Solana, Avalanche and Omni).
“Cool, so, is that this gonna have an effect on me??” — you, in all probability.
Yeah, it probs will.
When you use crypto, you and Celo (or one thing prefer it) will finally cross paths.
Trigger if crypto goes to catch on as a common fee technique — the commonest type will probably be some form of stablecoin.
A community like Celo primarily says to customers:
“We don’t care what sort of stablecoin you’re holding, or which blockchain you’re making an attempt to ship it throughout — we’ll make certain it will get to the place it must go, regardless.”
(Which is a normal in fiat debit/credit score funds, that crypto is but to satisfy).
Noice!
