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Celsius App Taps Simplex for Apple Pay Integration


www.financemagnates.com 24 March 2021 23:12, UTC
Reading time: ~2 m

Celsius, a cryptocurrency lending and borrowing platform, today said its users can now instantly purchase cryptocurrency inside the app using Apple Pay.

The development came as Simplex has recently added Apple’s digital payment service to the available payment methods. This has allowed users of its partners to use the popular digital payment app to buy several associated tokens more simply.

With the integration, Celsius is thus expanding its potential user base as the payment option is particularly popular in the US, where nearly half of Americans own an Apple device. Apple is also dominating 11% of the world mobile market, having grown its user base to more than 520 million people worldwide.

Simplex provides fiat on-ramp infrastructure for several cryptocurrency exchanges, brokers, and wallets. The Israeli-based startup combines crypto payment processing with fraud prevention technology and also provides a KYC opt-out feature for purchases less than $150.

“Adding Apple Pay in our app makes cryptocurrency purchases easy, immediate and even more accessible to the Celsius community. Thanks to our partnership with Simplex, we’re continuing to build Celsius into the ultimate one-stop shop for owning, earning and lending cryptocurrency,” says Alex Mashinsky, CEO of Celsius.

Celsius Assets Increased by Three Folds

This integration will also improve security for Celsius customers as using Apple Pay doesn’t require them to provide their credit card information over the internet.

Earlier this month, Celsius said it has surpassed over $10 billion in total cryptocurrency deposits in less than three years after launching its mobile app.

This announcement comes on the heels of Celsius saying it has acquired more than 145,000 new clients, totaling over 485,000 active users worldwide and was the first crypto platform to surpass $1 billion in total assets.

Furthermore, the crypto lender allows clients to access several services, such as instant depositing of digital assets in the Celsius wallet and using their cryptocurrencies as collateral to get fiat loans.

Celsius’ native token has seen significant growth, which was traded in early January at a new all-time high of $6.38, and is part of the Coinmarketcap’s top 70 list.

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