Deutsche Telekom is investing in the future of the decentralized financial economy – with a significant purchase of Celo’s native asset (CELO). Celo is an open-source blockchain ecosystem focused on making decentralized financial (DeFi) systems and tools accessible to anyone with a smartphone. Deutsche Telekom will be the first telecommunications company to join the global Celo Alliance for Prosperity.
“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 with our investment and our own cloud infrastructure while facilitating user onboarding and use-case development on top of the Celo network,” says Adel Al-Saleh, Member of the Board of Management of Deutsche Telekom AG and CEO of T-Systems.