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Public Mint Partners with Leading Crypto Lender Celsius for its High-Yield EARN Program

CryptocurrencyOct 05, 2021 08:09AM ET
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Public Mint Partners with Leading Crypto Lender Celsius for its High-Yield EARN Program

Payment system Public Mint has partnered with leading crypto lender Celsius to offer an all-in-one fintech solution to the users. Public Mint’s fiat-native blockchain and payments infrastructure aims to bridge the gap between fiat and cryptocurrency and traditional and crypto sectors.

By offering an open fiat-native blockchain and APIs, Public Mint allows anyone to build fiat-native applications and accept credit cards, ACH, wire transfers, and stablecoins. To start with, it has chosen the popular crypto lender Celsius as its centralized finance (CeFi) partner to integrate with its EARN program.

“We are honored to be working with Celsius to bring the untapped crypto yields to the masses,” said Jorge Pereira, co-founder and CTO of Public Mint.

What is the Earn Program?

The EARN program is the first app on the Public Mint network that offers automated and diversified yield on USD assets.

The EARN program actually combines the lucrative yield opportunities powered by decentralized finance (DeFi) and sophisticated, user-friendly, and reputable CeFi providers. This combination basically puts together the multiple complex protocols into one platform that offers a high yield to a wider and mainstream audience who may not be crypto or tech-savvy.

With this collaboration that involves a deep integration between Celsius and the Public Mint EARN platform, the idea is to have a one-stop solution for the high-yield earnings inherent in the crypto industry to a broad audience.

“We are excited to be partnering with Public Mint to advance the promise of blockchain-based finance,” said Camilla Churcher, Head of Business Development at Celsius.

“The old financial system is a relic of a bygone era, and rebuilding it on blockchain infrastructure is the mission of both our companies.” USD+ is the core of the EARN program which is a liquid earnings-bearing synthetic currency that can be redeemed for the fiat US dollar. This synthetic asset can also be used to earn yield and further to be freely transacted across the Public Mint blockchain.

This feature is accessible for both US dollars and Ether through Public Mint’s bridge via USDC stablecoin.

Public Mint is a payment system that just aims to provide users access to the best opportunities in DeFi and it sees its partnership with Celsius as the key step to a successful implementation of the Earn platform, allowing it to make its promise of simple, safe yield a reality.

Celsius – A Leading Name in DeFi Lending Space

Celsius boasts of more than 1 million users and allows them to earn as much as 17% yield on their crypto holdings in the current macro environment where interest rates are going to zero and sub-zero.

While banks and traditional financial institutions are barely offering any interest to savers and holders, the crypto sector is revolutionizing the finance sector by offering opportunities where double digits yields are common among CeFi providers and much higher in DeFi.

In the last 18 months, Celsius has paid over $837 million in yield and currently holds more than $21.3 billion in assets. Additionally, Celsius allows its users to borrow cash at 1%.

Celsius Network also has its own native token CEL, a $2.4 billion market cap cryptocurrency trading at $5.67, down 30% from its all-time high of $8.05 hit in early June.

Public Mint EARN also has a governance token called MINT which allows stakeholders to receive a fee from the total value locked (TVL) for their participation in the governance process. Up 335.5% in the last 3 months, MINT is trading at $0.3288, as of writing.

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Public Mint Partners with Leading Crypto Lender Celsius for its High-Yield EARN Program
 

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