CELO is a cryptocurrency that operates on the Celo platform, which is a mobile-first blockchain platform. The platform aims to provide an accessible and easy-to-use ecosystem for financial applications, particularly for individuals who don't have access to traditional banking services. The CELO token is used to pay for transaction fees on the Celo network and also serves as the governance token for the platform, enabling holders to vote on proposed changes and upgrades to the system. The Celo platform also supports the creation of stablecoins and other digital assets.