LONDON, Sept. 21, 2020 /PRNewswire/ — Celsius, the industry-leading cryptocurrency rewards-earning platform, announces today the addition of Paxos’ PAX Gold (PAXG) token to the Celsius mobile app. PAXG holders can now transfer their crypto to the Celsius app and earn up to 4.5% APY on their digital gold.
Celsius is the first platform ever to offer yield on the world’s oldest store of value, and PAXG is the second gold-backed cryptocurrency to be added to the Celsius platform after the company announced the addition of Tether Gold (XAUt) to the mobile app earlier this year. PAXG tokens are regulated by the New York Department of Financial Services and each token is backed by one fine troy ounce of London Good Delivery gold. PAXG is the only digital token backed by the highest-quality LBMA-certified gold bars stored in Brink’s vaults in London.
Walter Hessert, Head of Strategy at Paxos, commented, “Celsius has created a compelling offering for investors to earn rewards on their cryptocurrency. We’re thrilled that PAX Gold is now available to their users so many more around the world can earn rewards from their physical gold holdings.”
“By adding PAXG to the Celsius platform, we’re providing our 170k+ customers with the easiest and most rewarding way to own and earn on physical gold,” says Alex Mashinsky, CEO of Celsius. “At a time when government-backed currencies are losing value at record speeds across the globe, it’s vital to offer trusted alternatives to traditional financial services. PAXG enables our customers to diversify their financial opportunities and put their own economic freedom into their own hands.”
About Celsius Network
Celsius Network addresses the financial needs of today’s consumers worldwide through a reward income and low-cost loans accessible via a mobile app. Built on the belief that financial services should only do what is in the best interests of the depositor community, Celsius is a Blockchain-based marketplace platform where membership provides access to curated financial services that are not available through traditional financial institutions. Visit www.celsius.network
Paxos is a New York-regulated financial institution on a mission to create a global, frictionless economy. By building infrastructure to enable the movement between physical and digital assets, Paxos is creating a future where all assets—from money to commodities to securities—are digitized and can move instantaneously, 24/7.
Today, as the first regulated Trust company for digital assets, Paxos technology makes it possible to tokenize, custody, trade and settle assets. Paxos is the largest issuer of regulated stablecoins including Binance USD (BUSD), a white-label stablecoin offered through Paxos Stablecoin as a Service. Paxos products also include: Paxos Crypto Brokerage and Commodities & FX Post-Trade Service, which has been used to confirm more than $2 trillion commodities and FX trades. With offices in New York, London and Singapore, Paxos takes a global view of modernizing the financial system. Learn more at www.paxos.com.
Contact: Anastasia Golovina, [email protected]
SOURCE Celsius Network