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Celo Adds Local Currency Payments for AI Agents

Crypto
By admin
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Celo has added support for local currency payments for AI agents through its native x402 facilitator. The update allows agents on the network to use Ripio’s wARS, wBRL and wCOP tokens for payments in Argentine pesos, Brazilian reais, and Colombian pesos.

Celo Core Co., the team developing the Celo blockchain, launched the native x402 facilitator on July 16. The company says the new support can help agents make payments without converting local currencies into dollar-based stablecoins.

The change is aimed at reducing foreign exchange exposure for users who allow AI agents to make transactions on their behalf. Agents can operate with the same currency as their owners, while businesses and developers can also charge for services, data, and APIs in local currencies.

Ripio, a Latin American digital asset company, issues the wFIAT tokens used for local currency payments. Its assets are backed by currencies, including the Argentine, Brazilian, Mexican, Colombian, and Chilean pesos, as well as the Peruvian sol.

Celo currently supports 20 currencies across 33 stablecoins. The company said support for wMXN, wCLP, and wPEN is planned for the future. Since its mainnet launch in 2020, the network has processed more than 1.4 billion transactions, driven by payments, remittances, commerce, and DeFi.

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