Celo is a utility asset responsible for staking and governance of the Celo community. Celo.org claims to make financial tools accessible to all people with the only tool required being a mobile phone. The Celo Foundation is located in the US, it has a fixed supply and aims to be a stablecoin.

Everyone who has Celo is able to contribute to the Celo community and the decisions that govern it, by proposing changes for economic or operational models. One of the first ways this has been utilised was to decide how to utilise Celo for carbon offsetting. With more weighting on proposed decisions and directions able to be made based on greater utilisation of the Celo token.