# Rails for the Real World | Elizabeth Peng Celo at ETHConf

- Channel: [ETHGlobal](https://streameth.org/ethglobal)
- Date: 2026-07-09
- Duration: 15:57
- Topics: Celo, Elizabeth Peng, ETHCom, stablecoins, USDT, USDC, USAT, XAUT, tokenized gold, Tether, Circle, Anchorage, Opera Mini Pay, mobile first, gas tokens, emerging markets, Africa, Latin America, Kenyan shilling, Nigerian Naira, Philippine peso, L2 migration, EVM, Ethereum, Self, biometric ID, ZK proofs, Updown, FX, perps, regional DAOs, mini apps, payments, tokenomics, block space, ERC-7804, agent registry, Linum, Google Cloud, prosperity
- Watch: https://streameth.org/watch/yt-77dThu8Y7sg
- YouTube: https://www.youtube.com/watch?v=77dThu8Y7sg

## Description

In this talk, Elizabeth Peng, COO of Celo Corp (the merged entity of Celo Labs and the Celo Foundation), positions Celo as the number one blockchain for stablecoin payments, built since its Earth Day 2020 launch to create conditions of prosperity for all. She walks through Celo's journey of being EVM compatible L1 to becoming an Ethereum L2 while preserving full network state, and highlights its early differentiators that are now table stakes elsewhere: paying gas with multiple ERC-20 tokens including native USDC and USDT, ultra low gas fees, mobile first design, and multicurrency support. The chain has processed over 1.3 billion transactions, has 600,000 daily active users with verifiable phone numbers, $263 million in TVS, and just hit a peak $6.2 billion in monthly stablecoin trading volume.

Liz details Celo's emerging markets product market fit, supporting 25+ stablecoins ranging from US dollar denominations to local currencies like Kenyan shilling, Nigerian Naira, Philippine peso, and Colombian peso. Celo is the number one chain for Tether's USDT with 5 million weekly active users (ahead of Tron's 3 million), and leads tokenized gold with 100,000+ XAUT holders, with over 90% of XAUT's growth coming from Celo. She previews USAT, Tether's new Genius Act compliant stablecoin issued by Anchorage, coming to Celo as the second chain after Ethereum. The Opera Mini Pay partnership has activated 15 million wallets across 60+ countries with 430 million lifetime transactions and 80 million more users coming online to redeem browser points onchain. Liz also covers the Self privacy protocol using biometric IDs and ZK proofs (recently acquired Linum, now led by former Uber AI head Burju Shaw), the Updown perps DEX targeting the $7.5 trillion FX market, and Celo's tokenomics overhaul driving record chain revenue of $18,000 in a single day. She closes with the regional DAO network spanning Latin America, Europe, Arabia, Africa, Thailand, Korea, Philippines, and India that keeps the ecosystem decentralized and accountable.

00:00 Introduction
00:31 Building the Future, Not Just Prototyping It
01:17 What Is Celo
01:38 Celo's Mission and Origins
01:59 Early Innovations: Multi Token Gas, Mobile First, Multicurrency
02:41 Partners: Tether, Circle, Opera
03:01 Network Stats: 1.3 Billion Transactions
03:27 $6.2 Billion in Monthly Stablecoin Volume
03:56 The Vision: Global Venmo for Crypto
04:00 25+ Stablecoins in Local Currencies
04:30 #1 Chain for USDT with 5 Million Weekly Active Users
05:32 Leading Tether Gold and Tokenized Commodities
06:21 USAT Coming to Celo Second After Ethereum
06:53 Mini Pay Gold Use Cases and Cashback
07:14 Opera Mini Pay: 15 Million Activated Wallets
07:59 Regional Road Shows and Opera Partnership Extension
08:49 Updown: Onchain FX Targeting $7.5 Trillion Opportunity
09:23 Self: Privacy Protocol with Biometric ZK Proofs
10:20 Google Cloud Partnership and Boosted Yields
10:49 Self Acquires Linum, Burju Shaw From Uber AI
11:23 Mind Share and Industry Recognition
12:17 Top 5 Chain for Agent Activity on ERC-7804 Registry
12:41 Industry Praise: Vitalik, Bankless, Super Chain
13:06 The L2 Migration Playbook
13:38 Record $18,000 Chain Revenue Day
14:04 Block Space Business Is Alive
14:04 Regional DAO Network Around the World
14:47 Full Ecosystem of 1,000+ Projects in 150+ Countries
15:24 Closing

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