cUSD (Celo Dollars) is a stable asset in the Celo Ecosystem that is pegged to and mirrors the US Dollar.
The stablecoin Celo Dollar (cUSD) aims to reflect the value of the traditional currency US Dollar. Celo Dollars (cUSD) supports daily digital currency usage using mobile phones. The token aims to incentivize the users for holding and acts as an on-chain governance token. The token Celo Dollar (cUSD) is a reserve-backed stable token that seeks to provide surety to its relative traditional currency.
Who Founded Celo Dollar (CUSD)
Celo Dollar (cUSD) is a stablecoin created by the Celo Ecosystem which was originally founded by a team that included people from MIT, Google, Stanford, Square, World Bank, GoDaddy, Harvard University, the Federal Reserve Bank, and many more.
Silas Boyd-Wickizer (advisor), Daniel Kimotho (cLabs, ecosystem growth – Kenya), Victor Graf (cLabs, protocol building), Alexander Harley (Steakwallet, founder), Kobi Gurkan (cLabs, cryptography), Anna Kazlauskas (Corsali, founder), and many more are part of the team.
What Makes CUSD Unique?
The main motivation behind the development of cUSD was to give investors a hedge against the extreme volatility of well-known cryptocurrencies and to provide a viable alternative to them. The Celo platform aims to provide stable value currencies (stablecoins) like cUSD and cEUR and mapping of phone numbers to make and receive payments.