Opera, the browser developer, plans to acquire 160 million CELO tokens valued at approximately $12.4 million by converting an existing cash agreement with the Celo network, positioning itself as one of the protocol's largest token holders. The stake represents roughly 27% of CELO's circulating supply and 16% of its maximum emission.
The acquisition follows strong user adoption of MiniPay, Opera's integrated cryptocurrency wallet, which has reached 14 million users and processed over 420 million transactions across 66 countries. Opera's move signals confidence in Celo's payment infrastructure and reflects the browser maker's broader strategy to deepen integration with the blockchain ecosystem.
By converting monetary compensation into protocol tokens, Opera gains governance influence over Celo's development while demonstrating institutional-scale commitment to the network. The transaction underscores how consumer-facing applications are consolidating significant stakes in their underlying blockchains to align incentives and secure long-term participation.