Celsius Network Crosses 20,000 BTC in App Deposits in First Year

Since August 2018, stablecoin and crypto holders have been using Celsius to access interest income and lending services using BTC and other coins

LONDON–(BUSINESS WIRE)–#BTCCelsius Network (www.celsius.network), the industry-leading cryptocurrency platform, announced today that over 20,000 BTC have been deposited into Celsius apps since operations began in August 2018. Debunking the notion that HODLers want to manage their own keys, Celsius demonstrates that the majority of HODLers are more interested to maximize their coins.

With the mission of making financial services fair, rewarding, and transparent, Celsius members can earn interest income of up to 10.53% APR on crypto assets and use their coins as collateral to get dollar loans at rates as low as 4.95% without fees or penalties, no minimums or caps, and no lockups.

The company has also recently expanded its crypto-lending operations throughout Europe and most notably to crypto holders in Spain. Other recent milestones achieved include:

  • Over $2.2 billion worth of coin loans originated since July 2018
  • Over $350 million AUM passed in customer deposits and collateral from loans under management
  • Over 160,000 lending transactions.
  • Over $3.5 million in interest payments distributed
  • More earnings in BTC and ETH than anyone, returning up to 80% of its revenue to depositors

“We’ve passed the 20K mark in deposits for BTC, which is a huge deal not only for Celsius, but also for the crypto industry as a whole,” said Alex Mashinsky, CEO of Celsius Network. “The numbers show that people are using Celsius at an exponential rate. There clearly is a need in the financial world for fair and transparent financial services, and this recent achievement shows that Celsius is doing just that.”

About Celsius Network

Celsius Network addresses the financial needs of today’s consumers worldwide through a democratized interest income and lending platform accessible via a mobile app. Built on the belief that financial services should only do what is in the best interests of the depositor community, Celsius is a modern platform where membership provides access to curated financial services that are not available through traditional financial institutions. Find out more at www.celsius.network.

Contacts

Company Media:

Danna Cahana

Blonde 2.0 for Celsius

[email protected]

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