Opera moves to seize big slice of Celo with 160M CELO token bid
Browser maker Opera has asked Celo token holders to swap a cash-for-grant arrangement for a large token allocation that would make the company a major stakeholder in the payments network.
In a proposal posted to Celo’s governance forum, Opera seeks a one-time transfer of 160 million CELO from Celo’s unreleased treasury into an Opera-controlled Safe. The plan would replace Opera’s existing quarterly U.S. dollar grant with a three-year token award, and would take effect only if token holders approve it.
Scale and governance safeguards
- Using CoinMarketCap’s current figure of roughly 600 million CELO in circulation, 160 million CELO equals about 27% of circulating supply and roughly 16% of CELO’s 1 billion maximum supply.
- To limit influence over protocol decisions, the proposal caps Opera’s voting power at 10% of total staked CELO, though the measure allows exceptions for protocol emergencies.
Why Opera wants CELO
Opera points to MiniPay, its self-custodial crypto wallet that runs on Celo, as the rationale. MiniPay — which enables users to hold funds directly, send stablecoins via phone numbers instead of long wallet strings, and pay with local methods in markets such as Argentina and Brazil — is already Celo’s most-used app, Opera says. The company notes MiniPay has recorded more than 14 million registrations and over 420 million transactions across 66+ countries since launching in 2023. Opera also said 50 million browser users who recently earned rewards will be able to redeem them as USDT inside MiniPay.
“Since MiniPay is already Celo's most-used app, we have a clear, long-term incentive to see the entire ecosystem thrive,” Jorgen Arnesen, EVP at Opera, told CoinDesk. “The terms of this agreement reflect the scale and maturity of the partnership and Opera's genuine belief in and commitment to the long-term value of the Celo ecosystem and its native governance token, CELO, and our goal to be a supportive, key stakeholder.”
Market context
CELO was trading around $0.07 at the time of the proposal, a steep drop from its late‑2021 peak above $6. Opera’s shares were trading at $14.60 after a 1.2% decline in the most recent session.
If approved, the transfer would convert Opera’s relationship with Celo from a cash-funded partnership into a large, long-term token stake — reshaping the ownership landscape of the network and tying Opera’s incentives more tightly to CELO’s governance and growth.
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