Crypto Lending Network Celsius Reports Quarterly Growth, $730 Million in Deposits and Collateral

Crypto lending network Celsius has posted a release about platform growth. Launched in 2017, Celsius now claims 75,000 users worldwide. According to the company, it currently holds $730 million in deposits and collateral from loans under management. This is an increase of 62% from $450 million on November 12, 2019.

Additionally:

  • $11 million in interest payments, a staggering increase of 120% from just $5 million on 11/12/19

  • $6.2 billion of coin loans in today’s BTC prices since beginning its lending operations in July 2018, an increase of 46% from $4.25 billion on 11/12/19

According to a company representative, there is a “surging market demand for interest income from retail users” as well as a need to enable “wealth creation for depositors and liquidity for market makers and takers.”

According to  Celsius’ website, cash and stablecoin loans start at 3.47%. If you want to park your crypto, Celsius says it will pay you up to 12% APY (as of today).

Just recently, Celsius announced it would start offering compounded interest rates for users keeping their crypto with the platform.

Sponsored Links by DQ Promote


Send this to a friend