Celo appoints former Mento Labs CEO as head of stablecoins

Ethereum Layer 2 network Celo has appointed Dr. Markus Franke as its Global Head of Stablecoins, the project announced on its official Medium. Franke will oversee the expansion of Celo's on-chain economy, along with partnerships, new stablecoin issuance, and institutional adoption strategies. He was previously a senior economist at cLabs, an early developer of Celo, and was involved in establishing the project's initial vision before the mainnet launch. He later co-founded and served as CEO of Mento Labs, where he led the development of more than 10 local currency-based stablecoins, including BRLm, which is pegged to the Brazilian real.