Episode Details

Operas Proposal to Swap Cash for 160M CELO Tokens: A Potential Game-Changer in Payments Ecosystem

Opera, the browser company, is proposing to exchange its cash agreement with the Celo network for 160 million CELO tokens. This move could position Opera as a significant player in the payments ecosystem if token holders approve. The allocation represents 16% of Celos total token supply, currently trading at around $0.07 per token, a stark contrast to its peak of over $6 in late 2021. This shift aligns with Operas MiniPay wallet, which uses Celo for low-cost payments via phone numbers, popular in countries like Argentina and Brazil. MiniPay has garnered over 14 million users and processed over 420 million transactions across 66 countries since its 2023 launch. Operas browser users could soon redeem rewards as USDT within the app. The tokens would be held in an Opera-managed wallet with limited voting power, except in emergencies. Operas shares currently stand at $14.60, slightly down from yesterday, as the proposal awaits approval.

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