Celsius Network is Now Targeting Wall Street Clients With New Products

Celsius is making a way for institutional investors to trade bitcoin without holding the asset.

Dean Fankhauser2 min read
Celsius Network is Now Targeting Wall Street Clients With New Products

Crypto lending firm Celsius is targeting Wall Street clients with a new product that allows them to borrow and lend bitcoin using the firm’s platform.

The product, called ‘wrapped bitcoin’, is designed to meet the needs of institutional investors who want to trade bitcoin without having to hold the underlying asset.

Wrapped bitcoin is a digital token that is backed by real bitcoins held in Celsius’s reserve. Investors can use the token to trade on exchanges or over-the-counter platforms.

Celsius says that its wrapped bitcoin product will allow institutional investors to get exposure to the digital currency without having to worry about storage or custody issues.

The firm is also planning to launch similar products for other cryptocurrencies, such as Ethereum and Ripple’s XRP.

Celsius says that its wrapped bitcoin product will allow institutional investors to get exposure to the digital currency without having to worry about storage or custody issues. The firm is also planning to launch similar products for other cryptocurrencies, such as Ethereum and Ripple’s XRP.

With wrapped bitcoin, Celsius aims to provide a one-stop-shop for institutional investors who want to trade cryptocurrencies. The firm says that its platform can be used by hedge funds, family offices, and high-net-worth individuals.

Wrapped bitcoin is not the only product that Celsius is offering to institutional investors. The firm also provides a lending platform that allows users to earn interest on their digital assets.

Celsius says that its lending platform has already attracted over $1 billion in deposits from institutional and retail investors. The firm plans to use the funds to offer loans to companies and individuals in the crypto space.

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