Wouldn’t you like to take your crypto to the bank?

Our partnership with Celsius opens the door for both diamonds and crypto to the world of real-world banking, bringing with it endless possibility and potential.

Crypto world bankingOur story here at Carats.io begins with the most exclusive market for perhaps the world’s oldest commodity – diamonds. The diamond world has a critical financial problem – the shiny rocks are unacceptable as collateral for fiat loans. This means that banks are unwilling to provide loans to diamond dealers and owners based on the commodity in their vaults. This seriously hampered the ability of the industry to expand, as any ambitious player in the market would have to amass quite a bit of capital before embarking on any large projects or upgrades.

However, our partnership with Celsius is changing the game.

Celsius, an ethereum-based lending platform, allows crypto holders to leverage their digital wallets for fiat loans and earn interest on their tokens. By combining our CARAT tokens with their lending platform, we are able to offer a quick and easy way to convert real diamonds into banking collateral, and enjoy all the benefits the financial world has to offer.

This solution offers advantages to the diamond industry, as well as to the crypto community.

For the diamond industry, the partnership with Celsius has opened the door to the financial world. Instead of being an ‘old-school’ commodity stuck in the primitive confines of the traditional market, diamonds are now a full, financial asset. Diamond dealers or owners can simply bring their diamonds to Carats.io, where we will convert it to crypto that can be used to receive fiat loans from banks – all in a single step. This move is bound to cause exciting reverberations within the diamond industry as increased capital begins flowing in, allowing for the development and upgrade of the market’s mechanisms.

For the crypto community, this partnership improves the ability of token holders to receive loans and interest on their digital assets. Since the CARAT token is backed by real diamonds, it is more secure as an asset, and therefore receives improved conditions as a collateral. Whereas the conversion rate for crypto such as Bitcoin or Ethereum remains relatively high within the Celsius platform, CARATS go for much less. Crypto holders can convert their tokens into CARATS and then enjoy fiat loans and interest from established banks in an easy and streamlined process.

This is what makes the partnership with Celsius so exciting. By combining our technological products, with their innovative crypto lending platform, we are able to offer a solution attractive to both the diamond and crypto worlds – one that opens the door to a surge in capital and expansion for both.

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