Celsius Network, a cryptocurrency lending and borrowing platform, announced on Thursday in-app cryptocurrency purchases using ACH and SEPA. The purchases are through Celsius Network’s partnership with payment solutions provider Gem. Celsius Network reported that its customers may now be able to purchase cryptocurrencies through the Celsius platform using a bank transfer, ACH transfer, as well as its previously announced debit card and credit card purchase feature.
Speaking about the new feature, Micah Winkelspecht, CEO of Gem, stated:
“We’re building a bridge between the old financial system and the new, open financial system. We must make it easier for users to onboard to crypto directly from the apps and services they love. Launching Gem Onramp with Celsius Network’s massive community is a watershed moment for bringing ease-of-use to cryptocurrency.”
Alex Mashinsky, CEO of Celsius Network, added:
“By adding Gem to our platform, we’re able to streamline the addition of many new crypto users in a way that lets customers purchase crypto easily and securely, and then immediately start earning a high yield or have those assets available to use as collateral for a low interest cash loan.”
The launch of the in-app crypto purchases comes just days after Celsius Network announced it reached its extended fundraising goal of $17,000,000 in partnership with BnkToTheFuture. According to Celsius Network, more than 700 qualified investors from all over the world have already participated in the round since June.
Celsius Network reported the original minimum for the fundraising is $15 million and the platform decided to extend the round to match the overwhelming demand from the community.
“Celsius Network made the decision to crowdsource its fundraising because it aligned closely with its mission of bringing financial services and options typically only accessible by the 1% to everyone.”