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Cryptos:  11,089Exchanges:  391Market Cap:  $1,563,030,930,31524h Vol:  $81,795,485,590Dominance:  BTC: 48.4% ETH: 17.3%ETH Gas:  26 Gwei

Deutsche Telekom invests in the mobile-focused public blockchain Celo

HeadlinesNewsDeutsche Telekom invests in the mobile-focused public blockchain Celo

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Deutsche Telekom invests in the mobile-focused public blockchain Celo

The Block3 months ago
Published on April 20, 2021 09:39 GMT+0edited on April 20, 2021 10:17 GMT+0

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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 …