Celo Launches Web3 Africa Fund to Support Blockchain Startups

Celo, a mobile-focused blockchain platform, has launched Celo Web3 Africa Fund, which supports 250 projects to develop African blockchain-based projects.

The fund will choose 250 projects. In addition to financial support it will provide business and technical guidance. The fund is currently open for applications.

According to the company’s statement, seminars will be held in South Africa, Kenya and Uganda. It will assist blockchain projects in being listed on. Decentralized exchanges.

The Celo network has differentiated itself from other blockchains, enabling payments with its Celo Dollar stablecoin, which could be directly sent to a person’s phone number rather than an address.

Celo’s smartphone-focused platform has over 1 million wallet addresses registered across 113 countries.

The company claims it will be able reach 1 billion users worldwide By 2025

Last August, Celo, a mobile phone-focused blockchain platform, announced a 100 million funding program, popularly known as the “DeFi for the people” fund, aiming to make DeFi accessible to the 6 billion smartphone users worldwide.

Crypto Valley Venture Capital (CV VC), a Switzerland-headquartered private venture capital company, announced that it has launched African Blockchain Early-Stage Fund that targets blockchain startups from across the continent.

Source: Shutterstock



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