Celsius Network has reportedly taken an initiative to further its collaboration with fiat-to-crypto payments firm Simplex, via adding credit and debit cards to the list of accepted payment methods for crypto.
Specifically, Celsius – a crypto lending heavyweight – has reportedly added debit and credit card-enabled payment feature for purchasing gold-backed stablecoin Tether Gold (XAUT), with the lowest purchase amount for XAUT is $50, with the yearly interest rate reportedly takes up 4%.
Apart from Tether Gold, the new payment measure will reportedly also be applicable for the firm’s native token, Celsius (CEL). Per Celsius, users are able to generate CEL-based interest using 25 different digital coins, with a maximum rate of 30%.
The development surfaced following Celsius’s listing of Tether Gold on its mobile platform. Previously on May 5th, Celsius reportedly released XAUT supporting depositing on Celsius app, enabling 3% earning on annual percentage yield.
Previous in February this year, Celsius has reportedly teamed up with Simplex to roll out in-app crypto purchases feature, enabling credit or debit cards-enabled payment for Bitcoin (BTC) and Ether (ETH).
This development reportedly resembles the features from different Simplex integrations with large crypto platforms, nominally Binance and Huobi, where it offers facilitating support for Visa and MasterCard.