The cryptocurrency ecosystem has recently been experiencing all sorts of good news ranging from new start-ups springing up to widening the crypto space, so many partnerships that will enhance the ecosystem coming up frequently. The most recent of this good news was encoded in an official press release that announced a partnership between Carats.io and Celsius through a memorandum of understanding. This partnership unlike other partnerships that the ecosystem has witnessed in recent times is unique in various ways. However, in order to understand the uniqueness of this partnership, it is necessary to know the qualities of both companies.
Carats.io and Celsius – Who Are They?
Being the first of its kind, Carats.io is a Fintech company that issues cryptocurrency backed by diamonds. This company has thus been able to create a cryptocurrency marketplace for diamonds. Working on the blockchain, Carats.io is able to tokenize diamonds based on the differences in quality and sizes and allow users to trade these diamonds making use of cryptocurrency in the most secure and transparent way. With an excellent auditing partnership and its Diamond Financial Index, Carats.io remains one of the cryptocurrency marketplace’s vital force.
Celsius, on the other hand, is a digital currency loan community that allows users access to loans making use of their digital currencies as collaterals to secure such loans. To put it better, Celsius is a digital currency lending and borrowing platform that is powered by the blockchain. With a vision to allow users in the community have access to various financial products as well as earn interests by investing coins in their Celsius wallets, Celsius looks to bring about increase to the cryptocurrency marketplace.
The Vision Of Carats.io and Celsius Partnership
The memorandum of understanding that was agreed on and signed by both parties of Carats.io and Celsius takes a two-way beneficial dimension. First, this partnership is going to further better and promote the activities of jewelry traders who have long suffered frustration, particularly from traditional banks when looking for finance. This partnership would mean that jewelry and diamond traders are able to have access to loans and earn interest based on the correlative worth of their digital currencies in diamonds.
The second dimension of the carats.io and Celsius partnership is that the CARAT Tokens being backed by real diamonds will become much more stable, having more advantage over several other cryptocurrencies in the ecosystem.
Based on what is contained in the Memorandum of Understanding, there has also been adopted fusion of some members of each company’s team of experts to see to the effective drive of the partnership.
This partnership is a deliberate act that aims to make use of the creativity of both companies to create a community that is well designed in line with the regulations laid down to guide the operation of digital currencies. This partnership looks to, and will no doubt contribute significantly to the growth of the cryptocurrency ecosystem as a whole making it more conducive and attractive to users across the globe.
