The Forex (FX) market processes daily volumes of over $7.5 trillion, but is constrained by slow, fragmented and unavailable legacy infrastructure around the clock. Traditional Forex markets close over the weekend and rely on third parties, making transactions inefficient, which can take several days to resolve.
To address this, Mento is now expanding CELO’s decentralized Onchain FX capabilities to other blockchains by integrating with Wormhole, the leading interoperability platform connecting traditional finance with the Internet economy, and the native token forwarding (NTT) standard. This integration unlocks access to global FX liquidity between chains for the first time on an institutional scale.
Wormhole has powered over 200 applications, handles over $60 billion in multichine volumes, and has over 1 billion cross-chain messages across Solana, Ethereum, Aptos and other major blockchains. By leveraging this infrastructure, Mento will enable real-time multichine movements of over 15 global and local stub coins, including CUSD, CEUR, CKES, and more, unlock new use cases for decentralized currency exchanges.
The Origin of Mento: The Fundamentals of Global FX
MENTO was born as the stability protocol behind CELO’s decentralized stable coin. Following its community governance proposal, Mento expanded its mission to support use cases such as payments, remittances, microloans, savings and revenue yields, spinning from CELO’s core development team Clabs, as an independent project in 2022, to deliver accessible local currency stubcoin. The foundation is at the heart of Mento’s strategy of reaching billions of users in emerging and developed markets. Now, as CELO evolves into Ethereum Layer 2, Mento stands as the main FX infrastructure in the EVM ecosystem, enhancing decentralized currency exchange across the chain.
New Era of Global FX: Open, Instant, and Always On
Mento is building a decentralized infrastructure for global on-chain FX, enabling developers and institutions to incorporate currency conversions natively into financial applications. Unlike traditional FX systems, ment-driven FX immediately settles down 24/7, 24/7, eliminating the need for intermediaries.
Bringing currency exchange on-chain of that magnitude and laying rails to provide decentralized liquidity to currency growth, Mento forces both retail and institutional users to trade, hedge, settle and access to local currency or assets used worldwide. This shift is based on Mento’s strong foundation in emerging markets, placing it as a scalable FX engine across multiple chains.
Through integration with Wormhole NTT, Mento enables:
Multi-chine FX trading between 17 or more stub coins (including USDT and USDC) through real-time price execution. The movement of multi-currency stubrecoin across more than 40 blockchains with native issuance and redemption. Equipped with a Fixed Price Market Maker (FPMMS), FX payments allow flexible, real-world pricing for use cases, including cross-border payments, remittances, and financial operations.
This will unlock a future where currency exchanges are not limited to banking time or legacy regional systems, but globally, on-chain, and internet speeds.
Multichine liquidity for the on-chain currency market
Wormhole NTT integration looks like this in Mento Ecosystem Builders and Institutional Partners:
Take advantage of decentralized FX fluidity from multiple chains. Route FX trades across the ecosystem through Wormhole’s messaging infrastructure.
Build multi-chine applications that rely on stable, price-efficient conversions between major global currencies.
This is an important milestone in converting FX from a closed opaque system into an open, programmable layer of the Internet economy.
Unlock the Forex Market with Blockchain-Scale Infrastructure
“The Forex market is one of the world’s largest and most important financial systems, but it has not evolved to meet the demands of a 24/7 digital economy,” said Robinson Burkey, co-founder of the Wormhole Foundation. “This integration will launch the process of moving FX Onchain, making it faster, more accessible and more interoperable across the blockchain ecosystem, and unlocking another financial tool for investors’ growing markets.”
“The Mento platform aims to make the FX infrastructure of borderless finance a key role,” said Markus Franke, CEO of Mento Labs. “This integration with wormhole allows us to expand our vision globally, allowing anyone, anywhere, to trade and move currency in real time across the chain.
As Stablecoin adoption grows, the need for a fast, interoperable, distributed FX infrastructure has grown more than ever. With this integration, Mento and Wormhole are ready to meet the scale and speed of the modern financial world, laying the foundation for open, liquid, and programmable FX systems.
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About the Mento:
Mento is a decentralized FX infrastructure that enables seamless launches, trading and global currency settlements. Built for both institutions and individuals, Mento strengthens real-world financial use cases from cross-border payments to credit markets through an increasing portfolio of over-materialized stubcoins and a transparent multicurrency platform.
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