Crypto lender Celsius plans to offer bitcoin as a “wrapped asset” in a bid to attract professional investors on Wall Street.

Wrapped crypto tokens are cryptocurrencies pegged to the value of another crypto, or an asset such as stocks or commodities. Celsius says that the wrapping process allows an asset from one blockchain to be used on another, increasing liquidity and offering users a new avenue to rack up returns.

Speaking to Financial News at the Bitcoin 2022 conference in Miami, chief executive Alex Mashinsky said he wants to grow the firm’s 300-strong institutional client base, which includes banks, hedge funds and other financial firms.

The new bitcoin wrapping helps do that, he said, by adding bitcoin to the arsenal of digital assets that professional traders use to take advantage of wide discrepancies in price.