Nasdaq-listed Opera proposes 160M CELO deal to replace cash payments
The Norweigan browser company plans to swap quarterly US dollar payments for tokens pending community approval, deepening ties to Celo as MiniPay adoption grows.
Nasdaq-listed Norwegian browser company Opera has proposed a $160 million deal to receive quarterly payments in CELO tokens rather than traditional US dollar payments. The arrangement requires approval from the Celo community before implementation, marking a significant shift in how the publicly-traded technology company structures its payment agreements.
The proposal comes as Opera deepens its integration with the Celo blockchain ecosystem, particularly through its MiniPay mobile wallet service. MiniPay has gained traction as a payment solution built on Celo's infrastructure, allowing users to send and receive digital payments through Opera's mobile browser. The growing adoption of MiniPay appears to be driving Opera's increased commitment to the Celo network and its native token.
This move represents a notable development in corporate cryptocurrency adoption, as traditional public companies typically avoid holding significant amounts of digital assets due to regulatory and volatility concerns. Opera's willingness to accept token payments instead of fiat currency signals growing institutional confidence in blockchain-based payment systems and could encourage other companies to explore similar arrangements.
The success of this proposal will largely depend on Celo community governance approval and regulatory considerations for Opera as a publicly-traded entity. Market observers will be watching whether other traditional companies follow Opera's lead in accepting cryptocurrency payments for business operations.
Source: Cointelegraph
