Celsius acquires MVP workshop as it looks to build more on crypto
Celsius, one of the largest cryptocurrency lending and rewards earning platforms, has announced that it has acquired the development division of MVP Workshop as it looks to expand its development team.
The acquisition involves the taking over of the division that was already working for Celsius and it is believed that this division has around 50 employees. The team is based out of Serbia and it is expected that this team would augment the team that is already working out of Tel Aviv.
“This is an exciting day for Celsius, as we continue to grow with our long-time partners in MVP”, said Nuke Goldstein, Celsius CTO, and Co-Founder. “With this acquisition, we’ll be able to continue scaling our product development and continue to deliver the best products for our growing community.”
The two companies had already been collaborating on the development of the platform over the last 3 years and this acquisition shows the commitment of the company to continue the upgradation and growth of the platform in the coming years as well. It also shows the level of work done by the MVP Workshop team that Celsius has placed so much trust in them now. The details of the acquisition have not been made public yet.
“This combination is a great strategic fit to better align product development, customer service, and back-office operations for scalability”, said Celsius COO and Co-Founder, S. Daniel Leon. “We are better positioned to grow through innovation at greater speed together. The integration of our teams enhances Celsius’ ability to serve our community in building financial freedom for everyone”.
MVP Workshop is a fintech that focuses on blockchain product and project development and they focus exclusively on Web3 products and work with some of the largest blockchain teams in the world including polygon, moonbeam, and Web3 Foundation.
“We have been working together since day one and we believe that this next step in our collaboration is the right next step in our partnership”, said Ivan Bjelajac, manager of the Celsius development center in Belgrade. “This merger will allow MVP Workshop employees who have been working on the project for more than three years to become an integral part of a leading blockchain finance company that shares our values. This will help us scale in the long run, and I am very thankful to Celsius for the journey we had this far, and for the one that lies ahead.”
Acquisitions of teams that have already been working on their products and projects is a general practice in the software industry as it is a win-win situation for all involved, The team gets work continuity, the acquired company gets funds and the company that does the acquisition gets a stable and reliable team to work on its products and platforms.