Celo Integrates Nightfall for Enterprise B2B Payments Privacy
Celo, a mobile-first blockchain, has integrated Nightfall, an open-source privacy layer application, into its network. This move positions Celo as a leader in the enterprise B2B payments sector, which is expected to exceed $180 trillion in cross-border flows.
The integration, undertaken by EY (Ernst & Young) in March 2020, is seen as a critical step in expanding blockchain's role in global payments. Nightfall brings enterprise-level privacy features to Celo's global mobile-first infrastructure, enabling secure and cost-efficient financial transactions.
Celo aims to create a unified platform serving both individuals and enterprises, promoting digital financial inclusion. With over 500,000 daily active users and $2 billion in stablecoin volume each month across 150 countries, Celo's adoption is widespread.
Nightfall, the first payments-oriented blockchain development of its kind, is designed for private, enterprise-grade transactions on a public blockchain infrastructure. Enterprises using Celo can now execute private B2B transactions using stablecoins like USDT and USDC, with gas fee abstraction in ERC-20 tokens. Nightfall uses Zero-Knowledge Proof (ZKP) technology for private transfers of multiple token standards.
Celo's integration of Nightfall enables it to connect enterprise confidentiality requirements with the transparency and efficiency of public blockchain systems. This development is expected to further boost Celo's growth and influence in the global payments sector.
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