Presents Yield on Gold-Backed wDGLD Token

Celsius Community, a cryptocurrency lending and borrowing platform, introduced on Thursday it can add assist for CoinShares wDGLD token. In line with Celsius, clients will be capable of maintain wDGLD tokens of their Celsius wallets to earn weekly compounding yield or use their cash as collateral to get money loans towards their crypto.

“CoinShares and Blockchain.com launched the wDGLD token in November 2020 as an answer to convey digital gold onto the Ethereum community and lengthen its usability throughout the digital asset ecosystem. wDGLD is pegged 1:1 with DGLD, a gold-backed token constructed on the Bitcoin blockchain and is at present obtainable within the Blockchain.com pockets, house to over 69 million created wallets.”

Alex Mashinsky, CEO of Celsius, spoke in regards to the assist by stating:

“It’s a win-win-win once we’re capable of kind mutually useful partnerships that additionally generate extra worth for our clients. At a time when {dollars} and different inflationary currencies are shedding worth at an exponential charge, including wDGLD offers our customers with yet one more choice to diversify their property in a manner that acts of their finest curiosity.”

Based in 2017, Celsius addresses the monetary wants of as we speak’s shoppers worldwide by way of a democratized curiosity revenue and lending platform accessible by way of a cell app.

“Constructed on the idea that monetary providers ought to solely do what’s in the most effective pursuits of the neighborhood, Celsius is a contemporary platform the place membership offers entry to curated monetary providers that aren’t obtainable by way of conventional monetary establishments.”

Celsius lately introduced it now holds greater than $5.three billion price of cryptocurrency property.