Deutsche Telekom invested in Celo blockchain project

by in Blockchain News

Deutsche Telekom

German telecommunications company Deutsche Telekom has acquired an unnamed number of tokens from the Celo mobile cryptocurrency payments project.

“We are not fully aware of what Celo will be like in five to ten years, but we are confident that it will not disappear anywhere. The value is digitized every second of our conversation. This needs to be done in a reliable, transparent, and secure way,” said Andreas Dietrich, head of blockchain solutions at Deutsche Telekom.

Positioned as an alternative to Diem (formerly Libra), the Celo service operates in more than 100 countries. The Valora app allows you to make transactions around the world in a few seconds with a commission of $ 0.01.

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The CELO token is ranked 143rd in terms of market capitalization among cryptoassets with an indicator of $ 429 million, according to CoinGecko. At the time of writing, the token has reduced the daily decline to 1.7%, having added about 5% over the last hour.