TechFlow news — The Celo Foundation has announced the launch of its "Connect the World" campaign, allocating $20 million to incentivize developers worldwide to build high-quality fiat on- and off-ramps for Celo, aiming to enable Celo fiat gateways in 100 countries within one year. Celo stated its goal is for anyone to easily access Celo assets and convert them into fiat currency directly through their preferred wallet using common payment methods such as credit and debit cards, bank transfers, and mobile money apps.
At the same time, the Foundation has launched FiatConnect, an open-source API specification for payment providers, making integration more scalable and easier. The Celo Foundation will award $50,000 to the first payment provider in each country that integrates FiatConnect and demonstrates a high-quality fiat on- and off-ramp meeting the required standards.
