Celsius users can now purchase Tether Gold via credit and debit cards with a minimum purchase amount of $50.
Celsius Network is expanding its partnership with fiat-to-crypto payments provider, Simplex, by enabling its users to buy more crypto with credit and debit cards.
Celsius, a major crypto lending startup, now allows its users to purchase gold-backed stablecoin Tether Gold (XAUT) using debit and credit cards. Announcing the news on May 28, Celsius said that the minimum purchase amount for XAUT is $50, while the annual interest rate accounts for 4%.
Tether Gold was rolled out for depositing on Celsius app earlier in May
Alongside Tether Gold, the new integration with Simplex also unlocks credit and debit card purchases for the firm’s native token, Celsius (CEL). According to the firm, Celsius users can earn interest in CEL on 25 different virtual cryptocurrencies at a rate of up to 30%.
The new feature comes shortly after Celsius first listed Tether Gold on its mobile app. On May 5, Celsius rolled out XAUT for depositing on the Celsius app, allowing users to earn 3% of the annual percentage yield. Apparently, Celsius is one of few global companies that offer to earn interest on Tether Gold deposits via credit and debit card purchases.
Cointelegraph reached out to Celsius and Simplex for additional queries and will update if we hear back.
Celsius users can also buy BTC and ETH via credit and debit cards
Tether Gold and CEL are not the only cryptos that can be bought via credit and debit cards on Celsius network. In February 2020, Celsius launched in-app crypto purchases through a partnership with Simplex, unlocking Bitcoin (BTC) and Ether (ETH) via credit or debit cards. Similar to other Simplex integrations with major crypto firms like Binance and Huobi, the feature supports credit card issuers, including Visa and MasterCard.
Tether Gold is one of the stablecoins launched by major cryptocurrency firm Tether alongside the controversial stablecoin USDT. Launched in January 2020, the gold-backed stablecoin was subsequently listed by Tether’s affiliate exchange Bitfinex. In March, Bitfinex introduced Tether Gold for futures trading.
