KESm, issued by the Mento Protocol smart contracts under the governance of its tokenholders, is a stablecoin that references the Kenyan Shilling and forms part of Mento Labs' portfolio of local-currency digital assets recorded in its product registry.

Holders of KESm receive a digital token whose value references the Kenyan Shilling (KES) as its peg currency. Per the issuer product record, stability is maintained through the Mento Reserve, an asset pool comprising Bitcoin (BTC), Ether (ETH), Celo (CELO), Dai (DAI), USD Coin (USDC), the cMCO2 carbon credit token, and other digital assets. The product record describes KESm as an algorithmic stablecoin, with reserve assets supporting the referenced exchange value held by the holder.

The asset registry metadata attributes KESm to Mento Labs and characterizes it as an algorithmic stablecoin stabilized by an onchain reserve rather than a token issued by a single corporate entity exercising centralized control. Because no in-scope issuer documentation could be sourced for this entry, the issuer legal entity, jurisdiction of formation, applicable regulator or license regime, the legal form of the tokenholder claim, eligibility and offering restrictions, redemption rights, and the security or custodial arrangement protecting tokenholders are not established for this description and are recorded as unavailable.

KESm is recorded as an onchain stablecoin within the Mento Labs product registry. The token standard, the specific public blockchain networks supported, the mint and burn mechanics, settlement timing, and any oracle or reference-price publication mechanism could not be established from in-scope issuer documentation and are recorded as unavailable for this entry.

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Unique addresses that sent the asset via agentic payments (x402 protocol) over a rolling 30-day window.

Asset senders (monthly, Agentic)

Stablecoins

Mento maintains the exchange mechanism on Celo that issues local-currency stablecoins (cUSD, cEUR, cBRL, cKES) backed by a diversified on-chain reserve, earning revenue through trading spreads on minting and redemption.

Mento Labs builds multi-currency stablecoin infrastructure for the Celo ecosystem, issuing cUSD, cEUR, cREAL, and cKES with a decentralized FX trading platform.

Mento Labs is a team of economists and engineers spun out of the core Celo development team, led by CEO Markus Franke.

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Stablecoin issuers

Mento Labs

Mento Kenyan Shilling (KESm) is a Kenyan Shilling stablecoin issued by Mento Labs.

Holders can mint and redeem directly with Mento Labs in USDC and USDT.

KESm has been issued on Celo as an ERC-20 token since May 2024.

Mento Kenyan ShillingKESm