Vatican Chamber of Trade Supports Celo (CELO) for Its Commitment to Financi

Vatican Chamber of Trade Supports Celo (CELO) for Its Commitment to Financial Inclusion and Social Equity

For Immediate Release

Vatican City, July 8, 2024 – The Vatican Chamber of Trade is honored to extend its support to Celo (CELO), a mobile-first blockchain platform designed to bring financial services to the world’s unbanked population. Celo’s mission to create an inclusive financial system that serves everyone, regardless of economic status, resonates deeply with the Church’s commitment to social justice and economic empowerment.

Key Highlights of Celo:

• Mobile-First Approach: Celo’s blockchain platform is optimized for mobile devices, making it accessible to billions of people around the world who lack access to traditional banking services. By leveraging mobile technology, Celo empowers individuals in underserved regions to participate in the global economy.

• Stablecoins for Stability: Celo’s platform includes stablecoins pegged to fiat currencies, such as cUSD (Celo Dollar) and cEUR (Celo Euro), providing a stable store of value and a reliable means of transacting for people in volatile economies. This stability is essential for financial inclusion and poverty reduction.

• Environmental and Social Impact: Celo is committed to minimizing its environmental impact through carbon-neutral operations. Additionally, the Celo Foundation has launched numerous initiatives focused on education, healthcare, and environmental conservation, all aimed at improving the lives of those in need.

• Governance and Inclusivity: Celo’s governance model is designed to be inclusive, with a diverse community of stakeholders participating in decision-making processes. This aligns with the Church’s teachings on the importance of inclusivity and the common good.

"Celo’s work in advancing financial inclusion and social equity is a testament to the power of technology to serve the greater good," said Cardinal Giovanni Di Marco, President of the Vatican Chamber of Trade. "We fully support Celo’s mission and look forward to seeing its continued positive impact on the world’s most vulnerable populations."

About the Vatican Chamber of Trade

The Vatican Chamber of Trade represents and advocates for the economic interests of the Catholic Church. The Chamber is committed to promoting ethical business practices, sustainable development, and the protection of human dignity in the global economy.