Celo is a platform that aims to provide financial tools to individuals using mobile phones. It is backed by a network of technologists, international NGOs, and organizations dedicated to creating an inclusive financial system. cUSD (Celo Dollars) is a stable asset tied to the US Dollar. Celo claims that with cUSD, users can easily and cost-effectively share money on their mobile devices. The launch of cUSD was initiated through a community governance proposal in June 2020.