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Facebook Diem competitor Celo raises $20m; targets remittances 10 February 2021
5 Celo, the open-source blockchain payments outfit taking on the Facebook-led Diem, has received $20 million in backing from Andreessen Horowitz, Greenfield One, and Electric Capital.
Celo is building an ecosystem focused on financial services DeFi systems and tools accessible to anyone with a smartphone.
Over the last few years, the Celo community has developed a mainnet, native asset, a stablecoin, and a mobile payments app. So far, more than two million transactions have run across the Celo network.
Research shows that closed-loop systems can increase time in range and reduce both hyperglycemia and hypoglycemia in youth and young adults.<br />