Celsius CEO revealed the plan to introduce the new services in a September 8 meeting.
Crypto lending platform Celsius is planning to restructure its firm by rebuilding around crypto custody services. Alex Mashinsky, Celsius CEO, and Oren Blonstein, head of innovation and chief compliance officer, revealed the plan to revive the company via a new project named Kelvin in a meeting on September 8.
The project will involve storing crypto holdings of the users and charging fees on some transactions. The Committee of Unsecured Creditors, a legal entity that represents Celsius’ creditors, had reportedly requested the firm to continue its staking, custody, and loan services. Celsius filed for Chapter 11 bankruptcy in July, the proceedings of which are ongoing currently.