Celsius Network, a cryptocurrency lending, and borrowing platform, announced on Monday it has formed a new long-term partnership with Chainlink, a decentralized oracle network.
According to Celsius Network, the partnership serves as a key way to further Celsius’ overall decentralization through the use of Chainlink’s decentralized oracles and also enables Celsius to move towards a new level of security and reliability using Chainlink’s unique approach to decentralization. Celsius Network also revealed that Chainlink will also use Celsius’ highly secure and innovative treasury management solution for its BTC and ETH cryptocurrencies, which will allow Chainlink to benefit from the crypto rewards available through the Celsius interest income platform.
Sergey Nazarov Co-founder of Chainlink spoke about the partnership by stating working with Celsius to quickly achieve increased decentralization in the Celsius system, which will benefit both overall security and uses’ overall interest payment return. Alex Mashinsky, CEO of Celsius Network, added:
“Integrating Chainlink’s industry-leading decentralized oracle technology is the key step in the continued decentralization of Celsius. Partnering with Chainlink helps solidify our mission to bring revolutionary financial services to millions around the world.”
Founded in 2017, Celsius claims it addresses the financial needs of today’s consumers worldwide through a democratized interest income and lending platform accessible via a mobile app.
“Celsius is a modern platform where membership provides access to curated financial services that are not available through traditional financial institutions.”