In the past two years, there have been too many stories and discussions around L2, often about TPS or ecosystems, but at the core, there’s only one thing that matters:

Is anyone actually using this chain on a daily basis?
Celo, an OG chain, has gone against the grain by focusing on stablecoin remittances, cross-border money transfers, and mobile payments—real, fundamental needs.
Additionally, Celo has a strong chance to become the next opportunity like ZCash—not because it will become a privacy coin, but because it’s also betting on:
Long-term demand for low-cost transactions and enhanced privacy.
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So what is Celo @Celo actually doing?
Think of Celo as a global payment rail built on Ethereum:
▰ Transaction fees under one cent, with near-instant (about 1 second) finality
▰ Gas can be paid directly with USDT/USDC (no need to buy the native token first)
▰ Over 700,000 DAU, mainly from remittances and micro-payments—real-world use cases
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Why say Celo could be the next ZCash-like opportunity?
ZCash benefited from:
Demand for low-cost transactions + enhanced privacy.
Celo’s logic is:
1. Also emphasizes low-cost transactions and privacy for everyday users;
2. Celo uses Fee Abstraction and stablecoins as the core, creating a stronger moat in terms of utility, somewhat like ZCash’s shielded adoption but with broader applications.
Celo’s vibrancy doesn’t rely on DeFi alone; in emerging markets like Africa, it’s more about P2P transfers, bill payments, and savings—everyday life scenarios.
More importantly, in terms of revenue: 2024–2025 on-chain revenue is growing exponentially; since January 2024, monthly revenue has increased more than 10x.
Stablecoin transfer volume has also hit a milestone: in October, stablecoin transactions nearly reached $3 billion and are continuing to grow.
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The problem with many chains isn’t the technology—it’s that no one uses them.
What’s most unique about Celo is:
It integrates wallets directly into Opera Mini browser and standalone apps, creating an incredibly strong distribution funnel.
Key metrics are almost “Web2 level,” including:
▰ Over 11 million wallets activated
▰ More than 300 million on-chain transactions processed
▰ Coverage in over 60 countries/regions
▰ Wallet growth at 175% YoY, with strong expansion in South Africa/Ghana/Kenya/US
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There’s another angle to Celo that’s easy to overlook:
It doesn’t just focus on payments for individuals, but also adds a “privacy layer” for enterprise/B2B payments.
EY Nightfall has been deployed on Celo as Layer3, focusing on providing zero-knowledge privacy for businesses, suitable for B2B/large-value payments.
In my view, the significance of this move is:
When a chain aims to become a “global payment rail,” the ability to offer secure and compliance-friendly payments is inevitable. Nightfall is like a step that pushes Celo from utility to commercial adoption.
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As of now, Celo’s advantage doesn’t lie in storytelling, but in choosing the right direction:
Celo has chosen to focus on stablecoins, cross-border remittances, and mobile finance—more practical needs—and uses real distribution channels like MiniPay to attract new users.
Of course, the risks are also clear:
The payment race will ultimately come down to compliance, distribution channels, and product experience; whether the growth is sustainable and if the fee model can operate long-term—all of this remains to be seen over time.