Opera, a Nasdaq-listed browser company, has proposed restructuring its commercial agreement with the Celo ecosystem, replacing US dollar quarterly payments with an allocation of 160 million CELO tokens. The change requires approval from Celo’s onchain governance community and would make Opera one of the network’s largest institutional token holders.
Celo is an Ethereum-aligned protocol targeting mobile-first stablecoin payments in emerging markets. It transitioned from a standalone layer-1 blockchain to an Ethereum layer-2 network last year. Opera has partnered with Celo since 2021, when it integrated Celo-native stablecoins into its browser wallet.
Central to the partnership is Opera’s MiniPay wallet, a self-custodial app built on Celo that has reached 14 million users. MiniPay connected with Latin American payment platforms PIX and Mercado Pago in November.
Opera recently reported fourth-quarter revenue of $177.2 million, up 22% year-over-year, and full-year revenue of $614.8 million. The company’s Nasdaq-traded shares have risen more than 21% over the past month, trading at around $15 per share.
Originally reported by CoinTelegraph.
