Celsius Hits $4.25 Billion in Originated Crypto Loans, Setting the Bar for Crypto Lending Industry
Celsius Network, known for its unique business model of distributing 80% of its revenue to its depositors, continues to break records in the crypto-lending space
Nov 12, 2019, 11:00 ET
LONDON, Nov. 12, 2019 /PRNewswire/ -- Celsius Network, the industry-leading cryptocurrency platform, announces it has surpassed $4.25 billion in loan origination, as well as $450 million in deposits and over $5 million in interest income for its depositors. These new numbers reflect the company's growth as the largest and fastest growing crypto lending platform.
Since launching in 2017, Celsius has rapidly achieved a number of industry milestones. Today Celsius reveals it has achieved:
- $4.25 billion of coin loans in today's BTC prices since beginning its lending operations in July 2018, a 93% increase from $2.2 billion on 8/1/19
- $450 million in customer deposits and collateral from loans under management, a 50% increase from $300 million assets on 8/1/19
- $5 million in interest payments, an increase of 66% from $3 million on 8/1/19
"Celsius Network's industry-leading deposit rates are attracting a wide variety of customers, from ordinary consumers who are sick and tired of low-savings bank accounts to sophisticated institutions that want to profitably deploy their crypto holdings," said Alex Mashinksy, CEO of Celsius Network. "Celsius gives back 80% of loan interest to our depositors with no minimums, caps, fees or penalties -- our incredible growth shows there is high demand for lending platforms that put the needs of depositors first."
Celsius now has over 50,000 members, including both retail and institutional depositors, from more than 150 countries. The lending platform counts over 150 institutions among its clients, which include some of the largest trading firms in the U.S. and HFT firms around the world. Celsius is still the only fully transparent organization with data about membership, deposits and loans available in real-time in the app to all users to the health of the Celsius community.
About Celsius Network
Celsius Network addresses the financial needs of today's consumers worldwide through a blockchain-based 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. 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 4.95% APR.
For additional information please visit www.celsius.network
Contact: John Hyatt, [email protected]
SOURCE Celsius Network
