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Browser Integration Stablecoins! Opera Announces Integration of Celo Dollar and Euro Stablecoins, Tokens Surge Nearly Doubled Against the Trend

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Browser Integration Stablecoins! Opera Announces Integration of Celo Dollar and Euro Stablecoins, Tokens Surge Nearly Doubled Against the Trend

Opera, the web browser dedicated to integrating blockchain technology and cryptocurrencies, announced on 6/25 that its built-in crypto wallet will support stablecoins pegged to the U.S. Dollar and Euro from Celo. CELO has also emerged as one of the few cryptocurrencies that are bucking the downward trend.

Opera Introduces Stablecoins

Founded in Norway in 1995, Opera was the first browser to support Web3 and have an in-built cryptocurrency wallet. In December 2018, Opera introduced a cryptocurrency wallet to its Android browser, followed by the launch of a desktop browser with a built-in cryptocurrency wallet in April of the same year.

In a press release, Opera announced the integration of the following in its cryptocurrency wallet:

  • The native token Celo CELO
  • The Euro stablecoin Celo Euro cEUR
  • The Dollar stablecoin Celo Dollar cUSD

Users will now be able to buy, sell, make peer-to-peer transfers, trade, and cash out using Celo's native tokens or stablecoins directly from the browser's built-in cryptocurrency wallet.

Celo is an open-source global mobile payment infrastructure that enables users to make instant transfers and payments worldwide using their mobile phones. Co-founder Rene Reinsberg stated:

Opera is the first mainstream browser to integrate a cryptocurrency wallet and is now working towards enabling cryptocurrency transactions on mobile. This allows millions of users to interact with Celo assets and ecosystem.

The stablecoins under Celo are backed by a reserve made up of a basket of cryptocurrencies, including 50% CELO, 30% BTC, 15% ETH, and 5% DAI.

CELO Surges Against the Trend

Back in April, Deutsche Telekom from Germany announced an investment in the payment infrastructure Celo and became a network validator, causing the Celo token to surge by 90%.

Despite the recent volatility in the cryptocurrency market, CELO has once again surged against the trend, with a peak increase of 182% since 6/22, although it has slightly retraced from its all-time high of 4.6 to 3.5 USD.