Celsius Network, a cryptocurrency lending and borrowing platform, announced on Tuesday it started offering cash and stablecoin loans to users in Spain. Accoridng to the platform, the loans are starting at just 4.95% per year and are claimed to represent the lowest cost available anywhere with the option to borrow in euros, dollars, or stablecoins.
“Celsius offers the lowest borrowing rates and best benefits compared to banks and other loan providers, including the lowest interest rate in the industry: Anyone who requires cash loans can apply and get crypto-backed cash loans as low as 4.95% annual rate.”
Speaking about the loans, Alex Mashinsky, CEO of Celsius Network, stated:
“We are thrilled to announce that HODLers from Spain can now access low cost loans in both cash and stablecoins across Spain. As we continue to help people all over the world to ‘unbank themselves’ when it comes to the traditional banking and lending industries, we look forward to expanding these services to other countries in the near future.”
Celsius Network went on to add that the loans are now available both on the Celsius mobile app and the Celsius website.