Eco Upgrades Stablecoins on Celo and Beyond
Celo-native apps can now easily integrate stablecoins and send them to major chains instantly.
Another seed has been planted in the Eco-system. Celo, the Ethereum L2 built for the real world and designed for fast, low-cost transactions worldwide, is live on Eco Routes and the Eco Portal. Any app that integrates Eco Routes can enable stablecoin transfers using USDT (including USDT0 and oUSDT), USDC, and other stablecoins across 9 major chains.
The stablecoin landscape has become highly fragmented over the past decade. While many stablecoins have been issued across various chains, there's a significant lack of consistency. Major stablecoin issuers typically focus primarily on established chains, often neglecting newer ones. This fragmentation is further complicated by third-party applications like bridges and exchanges, which create their own 1:1 synthetic versions of existing stablecoins (e.g., USDC.e) to make them work across different chains.
Eco aims to combat this fragmentation by ensuring that all apps using stablecoins can easily enhance their existing app experience with a simple integration. Adding Celo support to Eco enables USDT0 and OpenUSDT, making it easier for anyone interested in using Tether on Celo to do so across seven chains, including Unichain, Lisk, and Soneium.
Developers interested in seamless stablecoin transfers using four types of stablecoins across six chains can use the Routes SDK.
Celo Rises To Take On Stablecoins
With a robust ecosystem of 25+ native stablecoins, including Tether’s USDT, Circle’s USDC, Mento Labs’ digital local currencies tracking the Kenyan Shilling (cKES), West African Franc (eXOF), Colombian Peso (CCOP), and more, Celo’s role as Web3’s “Home of Stablecoins” continues to grow with Eco’s integration. Opera’s self-custodial MiniPay stablecoin wallet, which has surpassed 8 million activated wallets globally, is just one example of the intuitive, accessible solutions on Celo that are onboarding new users and making stablecoins a valuable part of everyday life.
Celo’s robust, stablecoin-optimized ecosystem also includes blue-chip DeFi protocols like Aave, Uniswap, Curve, and Velodrome, as well as additional platforms that enable real-world payments via stablecoins, including Pretium, Bando, Acctual, and Bitgifty. Celo’s stablecoin market cap exceeds $180 million (Source: Artemis), and this volume is reported across seven native assets, including USDT, cUSD, and USDC. Eco’s integration will support the continued growth of Celo’s ecosystem, unlocking seamless bridging between Celo and Unichain, Optimism, Ethereum, and five other supported chains.
About Eco
Eco enables any onchain action to be a simple, one-click stablesend. With Eco, apps can easily accept anyone’s preferred stablecoin, regardless of the network — unlocking stablecoin liquidity from any connected chain and giving users the simplest onchain experience. To make this possible, the Eco Protocol brings together Routes, Accounts, and Crowd Liquidity (coming soon) to give app developers the ultimate flexibility while prioritizing speed, cost, and security.
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About Eco Inc.
Eco Inc. is a blockchain company building software that maximizes money’s value. The company is a founding contributor to the Eco Protocol and the builder of Bend. We expect better from our money, and we want you to as well. That’s what drives us every day.