Celsius Network has announced a partnership with Hyperwallet, a global payments provider owned by PayPal, to streamline the distribution of funds to its creditors. This move comes as Celsius continues to navigate its bankruptcy proceedings, aiming to provide an efficient and reliable method for distributing funds.
The collaboration with Hyperwallet will allow Celsius to leverage the platform’s extensive global reach and robust payment capabilities. This partnership is expected to simplify the complex process of fund distribution to creditors, ensuring that payments are made securely and promptly.
Celsius, which filed for bankruptcy in July 2022 following the collapse of the crypto lending market, has been working to return assets to its customers and creditors. The integration of Hyperwallet into its operations marks a significant step in the company’s efforts to fulfill its obligations during the bankruptcy process.
This partnership underscores Celsius’ commitment to transparency and efficiency as it continues to address the challenges arising from its financial difficulties. By teaming up with a trusted payment provider like Hyperwallet, Celsius aims to restore some degree of trust and reliability in its processes during this tumultuous period.
