Celsius Network Announces 25+ Cryptocurrencies as Loan Collateral
The product update solidifies Celsius as the most flexible loan provider in crypto.
Jul 29, 2020, 11:26 ET
LONDON, July 29, 2020 /PRNewswire/ -- Celsius Network announces today the offering of loans against 26 different cryptocurrencies. Starting today, every asset accepted in the Celsius Network wallet will also be approved for loan collateral. Users can now borrow stable coins and fiat against any asset they hold with Celsius at the lowest rates in the industry.
The long list of asset options includes new additions such as: stablecoins like TUSD, PAX, USDT, and GUSD, altcoins such as DASH, ZRX, XLM, and for the first time the firm's native token, CEL.
"Celsius users are a community of HODLers. They don't want to sell, but sometimes they need cash," says Celsius CEO, Alex Mashinsky. "Now we are able to give every HODLer the opportunity to borrow the cash they need without selling any of their assets."
By allowing users to borrow against over 25 cryptocurrencies, with flexible options for loan-to-value ratios and interest rates, Celsius Network offers the most customizable loans for cryptocurrency holders. Celsius recently announced its 1% APR loan option in May.
Celsius Network offers loans in over 200 countries via its mobile app. App users transfer crypto to Celsius as collateral and can borrow 25%, 33%, or 50% of its value in cash or stablecoins. Interest on loans starts just under 1% APR with no credit history or credit check required.
Find a full list of accepted cryptocurrencies here: https://celsius.network/borrow-dollars-using-crypto-as-collateral/.
About Celsius Network
Celsius Network addresses the financial needs of today's consumers worldwide through a high interest income and low cost loans 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 Blockchain-based marketplace platform where membership provides access to curated financial services that are not available through traditional financial institutions. For additional information please visit www.celsius.network
Contact: Anastasia Golovina, [email protected]
SOURCE Celsius Network
