Celsius Network, a cryptocurrency lending and borrowing platform announced on Thursday it topped $200 million in coin deposits in the course of ten months, as well as completed $1.2 billion in originated crypto loans.
Founded in 2010, Celsius claims that it addresses the financial needs of today’s consumers worldwide through a democratized interest income and lending platform accessible through a mobile app. The lender revealed:
“Built on the belief that financial services should only do what is in the best interests of the community, Celsius is a modern platform where membership provides access to curated financial services that are not available through traditional financial institutions. Crypto holders can earn interest by transferring their coins to their Celsius Wallet and borrow USD against their crypto collateral at interest rates as low as 5% APR.”
Celsius Network went on to add that it has also achieved other milestones, including the following:
- Celsius has completed over 100,000 coin loan trades
- More than 30,000 registered users have joined Celsius
- Celsius pays the industry’s highest interest rates on many coins including 6.4% on BTC at 6.4% DASH at 7.5% and USDC at 7.1%
- Celsius returns up to 80% of its income to depositors, compared with Binance BNB with 20% and Nexo at 30%