Onchain Custodian, a Singapore-based digital assets custody service, announced on Tuesday it has formed a new partnership with Celsius Network, a cryptocurrency lending, and borrowing platform.
The duo reported that the partnership enables Onchain Custodian’s customers to earn a yield on their assets by lending them out. Onchain Custodian’s customers may lend out their digital assets, place them in investment products, and soon, stake them. They may also convert their crypto to fiat and back.
As part of the collaboration, Celsius has selected Onchain Custodian to custody its Asia Pacific clients’ assets with a regional custodian. Celsius will then work on integrating Onchain Custodian’s custody service to enable its own APAC clients to transact their assets through an Asia-Pacific, award-winning custodian when they are not deployed on the market.
Alex Mashinsky, CEO Celsius Network, stated he and his team chose to partner with Onchain Custodian as is a “premier Asian custodian” with what he thinks is the best combination of technology and security. Mashinsky added:
“This will enable our Asian customers to know that their keys are safe and are held by a regional trusted name. We are also excited to offer our interest income and lending services to the Onchain Custodian community.”
Founded in 2017, Onchain Custodian is notably building a global standardized, resilient, compliant and automated platform for the safekeeping of institutional digital asset investments with incomparable user experience. Onchain Custodian is backed by Fosun, DHVC and Sequoia Capital.