Untangled joins Celo’s Climate Collective and Alliance for Prosperity
To mark Untangled’s upcoming launch on Celo’s mainnet (our contracts have been active on Celo testnet Alfajores since June 2022) we are happy to announce our recent memberships of:
- Climate Collective: A community-driven initiative, the Climate Collective fights climate change by aligning the demand for Celo stablecoins — currently cUSD, cEUR, cREAL — with efforts to protect the planet. As the demand for these stable assets increases, so will the percentage of nature-backed assets allocated in the Reserve. The aim of the Collective is to diversify and increase the allocation of natural assets to 40% by the end of 2025.
- Alliance for Properity: Alliance members work to help digital assets be shared in faster, less expensive, and more transparent ways, while expanding financial access and inclusion to digital currencies for the under-banked. Untangled joins many notable members such as a16z, Coinbase Ventures, Grameen Foundation and Deutsche Telekom as well as other RWA credit protocols such as Centrifuge and Goldfinch.
Given Untangled’s focus on trade finance and green assets it is hard to find more suitable alliances within Web3 than the above initiatives:
- Trade finance eases working capital needs among participants in international trade. For example, after shipment, a rice exporter in Vietnam typically has to wait 3 months for payment (e.g. from a supermarket chain in Europe). Trade finance enables the exporter to get early payment, allowing them to pay their workers and to ramp up production for the next order. With trade finance gap widened to $1.7 trillion as a result of the pandemic, improving access to trade finance by SMEs could make a real difference to the prosperity of many families in emerging markets.
- Both trade finance and green assets can be in the reserve that backs Celo ecosystem’s stablecoins. Imagine a currency that is backed by solar home system financing in Africa or a battery swapping infrastructure for bus fleets in India, among many other ReFi instruments. Apart from being money, this can bring about the transition necessary to avert the looming climate crisis, while providing energy access to millions of home and clean mobility for the people. This underpins the vision of “Money can be beautiful” that the Alliance for Prosperity has.
There are some technical issues to be resolved and Untangled has been working with Celo Foundation, Mento Protocol (Celo’s stablecoin protocol) and Climate Collective to make “Money can be beautiful” a reality.
To learn more about Untangled, read our technical documentation. To discover the mission-aligned projects building collaboratively with Untangled and the Climate Collective’s and Alliance for Prosperity’s many members and partners, visit the Climate Collective and Celo.
