Cryptocurrency Fintech News

Onchain Custodian Partners With Celsius Network to Make Custody Fees Go Negative

Onchain Custodian Partners With Celsius Network to Make Custody Fees Go Negative

Onchain Custodian, the Singapore-based digital assets custody service provider backed by Fosun, Sequoia and DHVC,  announced a partnership with Celsius Network, the renowned Cryptocurrency lending and borrowing platform. The partnership enables Onchain Custodian’s customers to earn a yield on their assets by lending them out. Earnings from rehypothecation to institutions similar to SEC lending on Wall Street results in income which offsets all custody and insurance fees.

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Celsius has also selected Onchain Custodian to custody its Asia Pacific clients’ assets with an award-winning, regional custodian.

Recently, Onchain Custodian released its new version of custody platform with warm wallet service built using IBM’s HSMs. In addition to the enterprise-grade secure service, Onchain Custodian’s clients are able to lend out their digital assets via Celsius. The return from lending out the digital assets allow ONC’s clients to enhance their investment, in addition to covering the custody fees.

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This service is part of the open finance services that Onchain Custodian has developed with curated, strategic global partners. Onchain Custodian’s customers can lend out their digital assets, place them in investment products, and soon, stake them. They can convert their crypto to fiat and back. They can also benefit from the independent escrow service of Onchain Custodian to secure the settlement of their OTC trades. All these ancillary services make Onchain Custodian a one-stop-shop for clients and a leading partner for crypto industry players.

Through these open finance services, operated by specialists curated by Onchain Custodian, the returns Onchain Custodian’s clients get does not only offset their custody fees but unlock extra returns they can reinvest or hold. All these services and benefits, they can get from the same secure SAFE™ Platform they know and like.

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