Celsius Network Incorporates Bitcoin.com Platform to Streamline Services
A new partnership between crypto lending platform Celsius Network and Bitcoin.com aims to streamline digital currency-related services for crypto owners.
A new partnership between crypto lending and borrowing platform Celsius Network and fintech-focused media outlet Bitcoin.com aims to streamline digital currency-related services for crypto owners using the Celsius App.
Per a press release published on Aug. 15, Celsius has integrated Bitcoin.com’s trading platform into its Celsius App to simplify cryptocurrency holders’ access to financial services. Users can now purchase a range of major cryptocurrencies including Bitcoin (BTC), Bitcoin Cash (BCH) and Ether (ETH) through Celsius App using Bitcoin.com’s crypto trading platform.
The release also hints that the companies expect further collaborative projects. Commenting on the partnership, CEO of Celsius Network, Alex Mashinsky said:
“Allowing our community to access Bitcoin.com’s platform through the Celsius app is a major step toward simplifying the cryptocurrency onboarding process and undoubtedly will help bring the next 100 million people into cryptocurrency. We look forward to cultivating our partnership with Bitcoin.com to provide even greater rewards for our communities.”
Last September, news broke that Celsius Network was planning to manage the Sustainable Development Goals Impact Fund within the United Nations’ Sustainable Development Goals initiative. Within the partnership with Fifth Element, Celsius Network was reportedly looking to “bring power back to the people” by providing banking services typically reserved for top tier asset owners.
As of the beginning of August 2019, Celsius Network had topped $300 million in coin deposits in the course of the preceding 12 months and had completed over $2 billion in coin loan origination. The company said:
“Celsius paid more in earned BTC and ETH than anyone returning up to 80% of its revenue to depositors, compared with Binance BNB returning 20% of profit as buyback and Nexo distributing 30% as a dividend.”