Stabila Foundation: Driving Stablecoin Adoption on Celo

The Stabila Foundation is excited to announce its launch, introducing a dedicated initiative to increase the adoption and real-world use cases of stablecoins within the Celo ecosystem. Funded by the Celo Community, Stabila will foster this by launching incentives for stablecoin liquidity pools, co-incentivizing educational campaigns, and supporting impactful stablecoin projects. These efforts aim to empower users and developers while advancing financial inclusion through the widespread use of stablecoins on Celo.

Our Mission

The Stabila Foundation’s mission is to increase the adoption and utility of stablecoins on Celo. The name “Stabila,” meaning “Stability” in Esperanto, reflects our commitment to creating a stable, efficient, and inclusive financial ecosystem, especially in emerging markets such as Africa, Latin America, and Southeast Asia.

Celo is well-positioned as the home for stablecoins, offering native support for leading stablecoins USDT and USDC, which represent over 85% of the total stablecoin market, along with a growing range of local currency stablecoin players like Mento Labs, Angle Labs, and BRLA Digital. This diversity drives inclusive financial applications across various regions.

Stabila is committed to accelerating this momentum by supporting innovative stablecoin projects and increasing the presence of impactful financial solutions on Celo.

Key Goals

• Increase awareness: Promote understanding and recognition of stablecoins and the Stabila Foundation’s efforts.
• Improve adoption: Focus on transaction volumes, user growth, and stablecoin diversity to drive the expansion of stablecoin use on Celo.
• Develop Strategic Partnerships: Build and strengthen partnerships to bring new users, developers, and collaborators into the ecosystem.

We aim to achieve these goals by collaborating closely with stablecoin issuers, ecosystem applications, infrastructure partners, merchants, and everyday users. Our support includes comprehensive assistance through liquidity support, co-incentive campaigns, and integration efforts.

Partner Collaboration

The Stabila Foundation is supported by a strong network of partners who share its vision and commitment to stablecoin adoption on Celo.

• Allbridge Core: “The Celo ecosystem has been a significant driver of cross-chain USDT swaps, and we’re excited to work with Stabila to further increase seamless transactions on our platform.” — Andriy Velykyy, Co-founder and CEO at Allbridge Core
• Angle Labs: “Excited to expand EURA stablecoin use cases and help drive on-chain FX spots market on Celo through our collaboration with Stabila.” — Pablo Veyrat, Co-Founder of Angle Labs
• Artemis: “Bringing transparent, objective data is necessary to drive continued growth and deepen trust in blockchain ecosystems.” — Anthony Yim, CTO and Co-Founder of Artemis
• BRLA Digital: “As with the BRLA Brazilian Real stablecoin, digital currencies are transforming how businesses and individuals transact across borders.” — Lucas Giorgio, Chief Sales Officer at BRLA Digital
• Credit Collective: “As a Celo community-led and funded initiative, we’re thrilled to see another project form to support new use cases for the ecosystem. We look forward to collaborating with Stabila to empower users in emerging markets and bring broader access to stablecoins.” — Tomer Bariach, Founder of Credit Collective
• Mento Labs: “Stabila is a pivotal partner in shaping the future of stablecoins in the Celo ecosystem. Mento Labs is proud to work together with Stabila to foster wide usage and adoption of decentralized local currency stablecoins on the Mento Platform (cEUR, cREAL, cKES, eXOF) for users around the world.” — Markus Franke, CEO of Mento Labs
• Solo Labs: “We’re proud to offer simple, automated liquidity through single-token stablecoin vaults, supporting Stabila’s efforts to drive the adoption of Celo-native stablecoins.” — Don Thibeau, Co-founder and CEO at Solo Labs.
• Steer Protocol: “Partnering with Stabila to increase user engagement and retention for Celo-native Smart Pools will be a key driver of adoption.” — Derek Barrera, Founder and CEO at Steer Protocol.
• Valora: “Valora’s mission of making crypto simpler and more accessible with a mobile-first wallet originated within the Celo ecosystem,” said Jackie Bona, CEO at Valora. “Today, we’re proud to partner with Stabila to continue driving our joint mission of unlocking financial opportunity through the growth of Celo-native stablecoins.”
• Verda Ventures: “Stablecoins will be the workhorse for global web3 adoption, providing price stability and financial access to billions, we’re thrilled to see Stabila incentivize the next wave of adoption.” — Alex Witt, General Partner of Verda Ventures
• Wormhole: “We’re proud to support the Stabila Foundation in enabling Celo-native USDT transfers. Wormhole’s goal of providing the leading interoperability solutions for seamless cross-chain transfers of data and assets goes hand in hand with Stabila’s vision for an efficient financial system. This collaboration is a significant step toward realizing this vision.” — Robinson Burkey, Co-Founder and CCO at Wormhole Foundation

Additional support for Stabila Foundation’s mission includes leaders with deep expertise in building ecosystems and driving new use cases for stablecoins like Paul Kremsky, Global Head of Business Development at Cumberland. “Stablecoins have emerged as the killer use case of blockchain. Today, they make trading and settlement within crypto markets efficient 24–7; tomorrow, they are going to bring this speed and efficiency to the rest of finance. Expanding stablecoins past the USD is an important effort that will bring this infrastructure to the whole world, including regions that are sorely underserved by traditional banking rails.”

Completed Initiatives

Since our inception in early May, Stabila has supported several successful initiatives aimed at driving stablecoin adoption:

• PDAX Celo USDT Listing: Expanded access to Celo USDT for users in the Philippines, marking a significant step in driving stablecoin adoption with a leading BSP-licensed exchange.
• Trust Wallet Campaign: Encouraged Trust Wallet users to explore the Celo ecosystem through USDT swaps. Learn more.
• Bybit Campaign: Encouraged ByBit users to explore USDT on Celo. Learn more.

Current Initiatives

On-Chain FX Campaign:
The On-Chain FX Campaign is now live! This campaign invites users to engage in FX spot markets through Stablecoin FX pools on Uniswap Protocol V3. Participants can earn additional CELO rewards as liquidity providers through Merkl’s reward platform Learn more and participate.

Way forward

The launch of the Stabila Foundation marks a significant milestone in our mission to transform the financial landscape with stablecoins. By enhancing the supply, liquidity, and utility of stablecoins on Celo, we aim to create a robust and inclusive digital economy that benefits users worldwide.

Get Involved

We invite partners to fill out the Stabila Intake Form to collaborate in accelerating stablecoin adoption and practical use on Celo. Whether you are a developer, a business, or a user, there are numerous opportunities to get involved and contribute to the growth of the stablecoin ecosystem on Celo.

Stay tuned for more updates and announcements from the Stabila Foundation. Together, we can build a more inclusive and efficient financial future.

For more information, visit our website and follow us on Twitter.