Celsius Network Chooses Fifth Element SDG Impact Fund for Crypto Asset Management
Fifth Element Chooses Celsius Network to Manage Crypto Assets
According to a press release, the Fifth Element announced that it was ready to launch its SDG Impact Fund, becoming the first to accept and deploy traditional assets in all types of digital assets, tokens, and crypto in an aim to meet the UN Sustainable Development Goals.
Celsius Network, a blockchain lending and borrowing platform, is among the founding members of the fund, and will be the preferred digital wallet. The SDG Impact Fund is expected to raise several hundred million dollars, which will be deployed in both digital format using blockchains and fiat currency.
Celsius Network Named as a Founding Member
During the SDG Frontier Finance forum that was held in conjunction with the International Day of Peace, the chief development magus of Fifth Element Fund, Bryan Doreian, announced the partnership and selected wallet provider, naming Celsius Network as a founding member. The event also saw a number of donors kick start the fund raising, contributing their share.
Celsius’ advisor, who happens to be one of the early investors of blockchain technology, commented on the partnership, saying that they will deliver value in a more precise and effective way. In his own words, he said that:
“We see a great opportunity to use this technology to deliver the value collected by different UN organizations in a more precise and effective way to the people and organizations that need it most.”
Blockchain to Help Monitor and Implement the Mission
The Fifth Element Fund intends to use the public blockchain in implementing its programs globally as well as monitor and implement its objectives in line with the UN Sustainable Development Goals.
Celsius Network focuses on providing banking services that were reserved for top 1%, bringing the power back to the people. According to Alex Mashinsky, the CEO of the firm:
“By offering earned interest rates up to 7.1 percent, we allow individuals to make the same passive income Wall Street has been making for years…”Joining forces with Fifth Element will ensure our services reach those most deserving.”