Earlier this week, Orbs and Celsius representatives met in Seoul, Korea to celebrate the highly anticipated collaboration between the projects: ORBS has been added to Celsius’ wallet, allowing their 30,000 users to stake the token as part of Orbs’ proof of stake universe. This partnership grants thousands of Celsius’ users unprecedented access to the Orbs network.
With the expressed goal of bringing the next 100 million people into the cryptocurrency market, the Celsius Network platform provides its members with curated services currently unavailable through traditional institutions. Celsius Network, which has a social media following of nearly 50K fans, has in May 2019 exceeded $200 million in deposits and $1.2 billion in coin loan origination.
This integration between Celsius and Orbs gives token holders admission to a new staking as a service (SaaS) facility provided by Celsius, with access to additional decentralized finance functions coming soon. Very soon other services, such as borrowing and lending abilities, will be added by Celsius as Orbs fully integrates into the platform. The incorporation will enable ORBS holders to participate in the Orbs’ proof of stake universe through Celsius, without requiring the time or technical knowledge usually needed to run a staking node.
Celsius will directly benefit from Orbs’ strong community and partners in Korea, which will expedite Celsius’ efforts of breaching the Korean and the Asian market. The addition of staking support for the ORBS token through the trusted Celsius wallet will expose a vast network to Orbs, strengthening the network’s security as more stakeholders participate in Orbs’ decentralized ecosystem.
This collaboration is part of a wider push by Orbs to make the network as accessible as possible: Another entity, the popular crypto custodian BitGo (aka The $1 TRILLION Wallet) is adding ORBS support to its crypto wallet following talks between the two blockchain companies. The new cooperation connects Orbs to BitGo’s tens of thousands of users and followers.
In addition to this, Staking as a Service vendor Staked.US has chosen to join the party, adding ORBS as well by acting as a Guardian to the Orbs Network. The popular US-based SaaS company is backed by the likes of Pantera Ventures, Coinbase Ventures and Digital Currency Group, and will assist in adding more strategic partners as well as raising capital for the project.
The celebratory event early this week in Seoul included presentations from both communities, including talks from CEO of Celsius Network Alex Mashinsky, President of Orbs Daniel Peled, and Orbs Korea representative Eddy Kim. In addition to talks about the nature of the collaboration, other announcements were made, including ORBS’ added listing to the popular OKEx exchange, and the opening of a new Orbs Center in Korea to be used to host meetups and further evangelize the project to local crypto and technological communities.
Media Mentions (Korea)