German telecommunications company Deutsche Telekom has invested in the public blockchain network Celo, the firm announced Tuesday.
Deutsche Telekom purchased an undisclosed amount of CELO tokens and plans to stake them. Through doing so, the company's subsidiary T-Systems MMS will operate as a validator using the Open Telekom Cloud (OTC), a scalable cloud infrastructure system the company developed.
According to the announcement, the OTC meets the security and compliance requirements of European regulations to ensure all financial services are secure and properly regulated.
“Our investment in CELO, combined with infrastructure operated by T-Systems, allows our company to take a strategic approach to participating in a public blockchain network. We are able to secure the Celo network …