A16z, Coinbase Ventures and other companies join Prosperity Alliance to build financial applications on the Celo chain

Venture capital firm Andreessen Horowitz (a16z), Coinbase Ventures, Polychain Capital and several other cryptocurrency companies have joined the Alliance for Prosperity to build financial applications on the Celo blockchain. The Celo Foundation says the 50 initial members of the alliance will work towards financial inclusion and explore multiple use cases, such as remittances, humanitarian aid, and microfinance. It is reported that the blockchain payment startup Celo raised USD 30 million in April last year through cryptocurrency investment institutions Polychain Capital and Andreessen Horowitz.