Happy 1st Anniversary, Mento Labs: A Year of Digital Asset Innovations!
November 1 2023
by Markus Franke
Dear Mento friends! As we mark the first anniversary of Mento Labs, we reflect on our Mento journey that began four years ago within cLabs. Today, we are excited to celebrate this milestone with our community.
Mento Labs is dedicated to building out the Mento platform, enabling our partners to effortlessly design and launch their own digital assets.
Our vision is one where financial tools and stable currencies become accessible to everyone. We imagine this digital asset toolkit functioning like a Swiss army knife, facilitating the creation of efficient, sustainable, and impactful economies.
Mento currently supports four stablecoins on Celo: CeloDollar (cUSD), CeloEuro (cEUR), CeloReal (cREAL), and the exciting new addition, the CFA Franc (eXOF). The Mento platform is envisioned to be a versatile toolkit, enabling individuals, businesses, and local governments to build their own decentralized and transparent financial systems. The Mento community aims to add many more currencies to Mento together with partners on the ground. We are especially proud of the recent momentum for Mento stablecoins in Africa through successful projects with two partners, Dunia and Opera.
The work with the Dunia team in West Africa is the start of making Mento more accessible in Africa. The Mento eXOF launched by Dunia tracks the value of the CFA Franc, a currency shared across 14 African states. Dunia’s eXOF stablecoin powered mobile money service supports more than +25k merchants and over 10 banks and microfinance institutions across francophone Africa.
Having Mento’s cUSD in Opera’s MiniPay wallet allows users in Africa to send and receive Mento stablecoins using their existing mobile numbers. Launched in Nigeria, MiniPay supports the Mento stable asset cUSD. Mento Labs is excited to support the MiniPay rollout across additional countries and provide easy access to affordable and accessible financial services to users in Africa.
This is just the beginning! We are grateful for the support of our partners, community and friends from all corners of the world, all of whom support our mission to advance financial inclusion through the real-world adoption of digital assets.
Happy Birthday Mento Labs!
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