One Year Since Launch Anchorage Digital Adds Celo Euro Support as Preferred Custody Provider

Diogo Mónica, Co-Founder and President

Anchorage Digital clients can now custody Celo Euro (cEUR), a stable digital asset that algorithmically tracks the Euro. Just as Anchorage supported custody, staking, and governance for Celo governance token, CELO (formerly cGLD) at launch over a year ago, Anchorage now offers clients access to cEUR at launch, alongside the Celo Dollar (cUSD). Our clients demand early exposure to new and innovative assets. Supporting another milestone for the Celo network is only fitting.

Anchorage has always been committed to propelling innovation within the industry forward, and we’re proud of our early support for new assets along the way. Just as Anchorage supported Filecoin, Compound, and Oasis at launch, we also seek to be the first line of support to promising new protocols like Celo. For this reason, Anchorage is pleased to be the first to offer secure institutional custody for cEUR.

“Anchorage Digital has proven to be an outstanding long-term partner to the Celo ecosystem that has been very involved in testing the network, playing a foundational role as a validator, and custodying our reserves,” said Albert Wang, Product Partner at cLabs, a team working on Celo. “Bringing institutional access to cEUR unlocks a critical capability for the Celo ecosystem.”

The Celo Network Anniversary

Last month marked one year since the Celo mainnet launch, a milestone event where more than seventy validators with nodes on every continent except Antarctica stood up the network in collaboration with Anchorage, Figment, and many other members of the Celo Alliance for Prosperity. Celo’s substantial launch work is centered around creating a new payments system based on mobile-access for the estimated 6 billion smartphone owners around the world through low-cost peer-to-peer remittances over mobile phone numbers, exchanges, and cash-in cash-out providers.

Prior to launch day, Anchorage faced the challenge of solving both custody and staking so that institutional investors could rely on Anchorage custody for governance token CELO at launch.

Our commitment to new protocols such as Celo continues far past launch day. Since mainnet, Anchorage has played a significant role as a Celo validator and continues to do so today, supporting the longevity and long-term integrity of the network.

“Anchorage was the only custodian Figment worked with that was able to launch custody with the ability to delegate to a third party staking provider from the early days of the network launch,” says Matt Harrop, Co-Founder and CEO of Figment Networks.

As a partner committed to making digital assets usable and an early partner in the Celo network launch, we’re celebrating the one year anniversary of Celo’s mainnet launch with a case study looking back at how it happened. Sign up to access the case study here.

Presenting Our Celo Mainnet Launch Case Study

Our case study should be read by protocol developers, institutions interested in evaluating new protocol launches, and anyone who wants to know:

• What goes into a successful distributed mainnet launch?
• How does Anchorage help secure a network and support needed research and testing?
• What does Anchorage evaluate before deciding to support a new network?
• How can a new protocol offer staking and custody to institutions at launch?
• What kind of testing is done ahead of a successful mainnet launch?
• What happens after launch and how does Anchorage support a network as it evolves?

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), two stablecoins (cUSD and cEUR) and the Celo Foundation’s Alliance for Prosperity, with over 130 organizations around the world, including Andreessen Horowitz, Anchorage, Coinbase, GSMA, Mercy Corps, Grameen Foundation, Prosegur, Abra, and cLabs, a service organization dedicated to growing and developing the Celo ecosystem. For more information on Celo, please visit celo.org.

If you’re interested in holding cEUR, cUSD, or holding, staking, or voting with CELO, please get in touch. Sign up here to view our free case study.

Holdings of cryptocurrencies and other digital assets are speculative and involve a substantial degree of risk, including the risk of complete loss. There can be no assurance that any cryptocurrency, token, coin, or other crypto asset will be viable, liquid, or solvent. No Anchorage communication is intended to imply that any digital asset services are low-risk or risk-free. Digital assets are held in custody by Anchorage Digital Bank National Association and are not guaranteed or FDIC-insured or SIPC-insured. Any depictions of simulated or past loan performance are not necessarily indicative of future results.