What are they building on Celo?
LocalCoinSwap: Non-custodial cUSD on/off-ramp
They are going to build a non-custodial on/off-ramp, enabling anyone worldwide to buy and sell cUSD with 250+ payment methods, in any local currency. In addition, they will be providing free and secure self-custodial web-wallets for cUSD.
This implementation will be built using on-chain escrow smart contracts. This minimizes any platform risk and ensures that users can enter and exit the Celo ecosystem in a safe and secure manner.
cUSD will be integrated into their existing P2P platform, which provides an intuitive front-end that is 100% mobile-optimized. The user experience ensures that no prior cryptocurrency or blockchain knowledge is required to buy or sell. However, users will still have full control over their private keys and funds at all times.
LocalCoinSwap will position cUSD as the primary stablecoin, both through site placement and in stablecoin-focused blog posts.