Orbit Chain x Celo Partnership

Published on: 29.10.2021

Orbit Chain introduced the newest member of the ever-growing list of esteemed partners Celo Foundation.

Celo will be integrated as an origination chain on Orbit Bridge, as well as its associated tokens joining the tokens the Bridge supports. This means that Celo users can now bridge tokens directly from the Celo chain to other chains connected to Orbit Bridge. This connectivity will start off with Klaytn and Orbit Chain, and will include in the future other Orbit Bridge connected chains like Ethereum, BSC, HECO, and Polygon. The first set of Celo tokens supported by Orbit Bridge will be CELO and cUSD.

Celo has a robust ecosystem, with new capabilities for DeFi protocols to call Celo home. With existing, established DeFi protocols to new protocols such as Ubeswap now calling Celo home, they expect this partnership to benefit all chains connected to Celo, as well as Celo now able to take advantage of liquidity available outside of its ecosystem. This will also provide additional value for DeFi protocols hosted on Celo, imbuing them with capabilities to go cross-chain.

The integration of Celo as an origination chain in Orbit Bridge is a part of the Orbit Chain initiative to become the definitive solution in cross-chain compatibility. This will not only make it easier for the holders of assets from Celo to experience the Orbit ecosystem but to also allow Orbit Bridge users and Orbit Chain holders to experience the economic benefits of Celo and Celo-based assets as well.

About Celo

Celo is a mobile-first, open-source ecosystem of technologies, organizations and individuals that all share a common mission of building a financial system that creates the conditions for prosperity for everyone. The Celo ecosystem includes a decentralized, Proof-of-Stake blockchain technology stack (Celo Platform), a native asset (CELO), stablecoins (cUSD, cEUR), and the Celo Alliance for Prosperity, with over 150 organizations around the world, including Deutsche Telekom, PayU, Opera, Andreessen Horowitz, Anchorage, Coinbase, GSMA, Grameen Foundation, Prosegur, Abra, and cLabs, a service organization dedicated to growing and developing the Celo ecosystem.