According to BlockBeats, on October 17, CoinDesk reported that Mento Labs, the development team of Mento, a decentralized EVM platform on the Celo network, announced the completion of a $10 million financing. This round of financing was supported by many well-known investment institutions such as T-Capital and HashKey Capital.

Mento Labs also announced a stablecoin roadmap, planning to add three new local digital currencies: Philippine Peso (PUSO), Colombian Peso (cCOP) and Ghanaian Cedi (cGHS). The Mento Stability Protocol uses crypto reserves to provide an over-collateralized, decentralized and transparent stable asset mechanism, allowing users to adjust the supply of stable assets according to changes in demand.