Celo Core Co. Appoints Markus Franke to Lead Global Stablecoin Strategy

Celo Core Co. has appointed Dr. Markus Franke as the head of its global stablecoin business, focusing on advancing the stablecoin strategy on the Celo blockchain. According to Foresight News, Franke will oversee partner expansion, the issuance of new stable assets, and institutional adoption. Previously, he co-founded Mento Labs. Celo will also support the issuance of the native USAT, a dollar stablecoin issued by Anchorage Digital Bank and backed by Tether. Mento Labs, which split from Celo's core development company cLabs in 2022, specializes in stablecoins pegged to local currencies in emerging markets. It has led the issuance of over ten local digital currencies, including the first Brazilian real-pegged stablecoin, BRLm.