Kadena Onboards Celo’s Dollar Stablecoin, Plots January Launch for Decentralized Exchange
Hybrid blockchain maker Kadena said Tuesday it is collaborating with fintech firm Celo to put its U.S. dollar stablecoin, cUSD, on Kadena’s platform using a trustless bridge.
Kadena said that in addition to the bridge, the blockchain platform will wrap its native KDA token on Celo’s platform. This will allow both Celo’s cUSD stablecoin and Kadena’s KDA token to operate on each other’s platforms, the company said. That will allow KDA token holders to participate in collateralizing Celo’s stablecoin and thereby earn revenue.