Celo's network activity has hit an all-time high, with quarterly transfer volume doubling to $7.3 billion in the most recent quarter. The 100% quarter-over-quarter growth, reported by TokenTerminal, is largely attributed to surging usage of Tether's USDT stablecoin.

This spike in transactional volume provides a strong foundation for the network's expanding asset ecosystem. Coinciding with the usage growth, Tether announced the launch of its tokenized gold (XAUt) on the Celo platform. The introduction of XAUt, a digital token backed by physical gold, adds a new dimension to Celo's offerings.

The move signals Celo's focus on integrating real-world assets (RWAs) and diversifying the types of stable-value assets available within its DeFi ecosystem. By bringing one of the most established tokenized gold products to its network, Celo aims to attract new users and capital seeking inflation-resistant stores of value.