06 Jun 2020
DiamondWorld Directory
Home |
News
Home
Carats.io Signs MoU with Celsius Blockchain-Powered Financing Platform
Carats.io's inherently non-volatile CARAT coins will be a featured stable coin within the Celsius digital wallet.
By: Diamond World News Service
|
Aug 2 2018 10:42AM
|
Reference: 16553  

DecreaseIncrease

Carats.io, the fintech startup company that is issuing the world's first-ever digital currency backed by diamonds, has signed a Memorandum of Understanding with Celsius, a blockchain-powered global financial platform that allows its members to borrow capital and earn interest against their crypto-holdings. According to the agreement, Carats.io's CARAT coins will be a featured stable coin within the Celsius digital wallet.

CARAT coins are fully backed by real diamonds, which are held in secure vaults by the fintech company, enabling a stable currency. CARAT coins represent an inherently non-volatile alternative with an advantage among other cryptocurrencies, over volatile traditional cryptocurrencies.   

For members of the diamond and jewelry industries, which in recent years have experienced a substantial reduction in available traditional bank financing, the new Carats.io-Celsius partnership provides financial solutions, enabling them both to receive loans and earn interest on their diamonds holdings.

According to the MOU, Celsius co-founders, CEO Alex Mashinsky and COO S. Daniel Leon, will join the Carats.io Board of Advisors.   

"Our company was created to bridge the gap between the traditional economy and the new digital economy, providing the checks and balances of former, with the freedom, creativity and innovation of the latter," said Eli Avidar, President of Carats.io. "Our CARAT coins are financially solid by design, in full compliance with all the regulations and protocols of the financial sectors, as well the governments and international agencies. We are convinced about the very significant contribution than can be made by non-volatile digital coins, especially when they are supported by an experienced and traditionally cautious business sector like the diamond and jewelry industry."

"Blockchain has the potential to reinvent how financial transactions are originated, managed and recorded across the globe," said Celsius CEO, Alex Mashinsky. "At Celsius we are building a new suite of financial products for the digital currency market in order to bring the next 100 million people into blockchain. Our partnership with Carats.io and offering loans against stable coins is a key part of that plan." 

Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
 
*  Name:
 
*  Mobile:
 
*  Email:
 
 
Subscribe for DiamondWorld weekly Newsletter
 
Advertisement
HouseAd_Trade Fair
Search News by City
Advertisement
Kosher 23460
Advertisement
Kosher 23460
Recent Issue
2020
AVAILABLE NOW...!
Advertisement
Kosher 23460
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 26404
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 35
GJEPC Chairman Interview
Views: 23703
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 30655
Promo for IJ Awards 2012 at NDTV Profit
Views: 44877
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 45905
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 18165
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 43533
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 41787
Advertisement
GIA_2020
Advertisement
M.Tarun
Member of:
Supporter of: