Opera, a Nasdaq-listed browser company, is looking to strengthen its ties with the cryptocurrency ecosystem through a proposed deal with Celo, a payment network.
The company has submitted a proposal to swap its existing cash-based agreement for a 160 million CELO token allocation. This move would make Opera one of the largest stakeholders in the Celo network and give it a significant exposure to potential upside if the network and price recover.
According to the terms outlined, the transaction would involve a one-time transfer of 160 million CELO from the unreleased Celo treasury to an Opera-controlled Safe wallet. The voting power attached to these tokens would be capped at 10% of total staked CELO, with exceptions only in protocol emergencies.
The shift from cash to tokens reflects the growing importance of MiniPay, a self-custodial crypto wallet operated by Opera on the Celo network. MiniPay has recorded over 14 million registrations and more than 420 million transactions across 66 countries since its launch in 2023.