Crypto lender Celsius on Monday said that the firm is working with advisors to transfer funds from Signature Bank to other approved authorized depositories.

"At this time, all cash belonging to the estate is secured," Celsius said in a tweet.

State regulators closed New York-based Signature Bank earlier in the day, the third largest failure in U.S. banking history, two days after authorities shuttered Silicon Valley Bank (SVB) in a collapse that stranded billions in deposits.

(Reporting by Mrinmay Dey in Bengaluru; Editing by Rashmi Aich)