Saber launches the first Celo-bridged liquidity pool in partnership with Allbridge.

The Celo Dollar (cUSD) is Celo’s native USD stablecoin, backed by a diversified portfolio of crypto reserves.

Allbridge provides the bridging solution connecting Layer 1 networks including Celo to Solana, and Saber is proud to be a liquidity hub bringing the growing supply of $65m cUSD to Solana.

Check out these docs, if you are interested in using this Celo <> Solana bridge for Celo Dollars.

Saber allows users to bridge their Celo Dollars onto Solana in a wrapped form, exchange them for Solana-native USDC, or earn yield for providing liquidity.

As the fastest, most scalable blockchain, Solana has found product-market fit as a DeFi powerhouse. Celo has garnered impressive traction as a mobile-first Layer 1, empowering anyone with a mobile phone to take control of their money. With this frictionless cross-chain bridge between Celo and Solana, Saber is excited to onboard Celo mobile users to Solana, while empowering Celo native payment applications to integrate Solana backend infrastructure.

Stablecoins are a simple and elegant way to trade into and out of tokens on separate blockchains. Saber and Allbridge have now opened the door for high composability and cross-chain interoperability with Celo.

About Saber

Saber is the leading cross-chain AMM for pegged assets on Solana, such as stablecoins and wrapped assets. As Solana’s core cross-chain liquidity network, Saber helps facilitate the transfer of assets between Solana and other blockchains. Users deposit crypto into a Saber liquidity pool to earn passive yield from transaction fees, token-based incentives, and eventually automated DeFi strategies.

Website ♦ Twitter ♦ Discord ♦ Medium

About Allbridge

Allbridge is a modular and expanding token bridge with on-chain consensus. It’s a simple, modern, and reliable way to transfer assets between blockchain networks. Allbridge mission is to make the blockchain world borderless and provide a tool to freely move assets between different networks. In the future it will evolve into a DAO-style multi-chain hub, establishing connections between the EVM and non-EVM networks.

Website ♦ Twitter ♦ Telegram ♦ Medium ♦ Trustpilot

About Celo

Celo is a mobile-first, carbon-neutral blockchain that makes decentralized financial (DeFi) tools and services accessible to anyone with a mobile phone — bringing the powerful benefits of DeFi to the users of the 6 billion smartphone subscribers around the world. With its interoperability, cross-chain compatibility and vision for inclusivity, Celo enables native and non-native digital assets — both private and public) — to circulate freely, at extremely low costs and high speeds, across devices, carriers, and countries — making money mobile, global and accessible like never before.

Website ♦ Twitter ♦ Telegram ♦ Medium

⏩  SOURCE