Nov 01, 2021, 11:13 ET
HOBOKEN, N.J., Nov. 1, 2021 /PRNewswire/ -- Celsius Network, the leading global cryptocurrency earning and borrowing platform, announced it has paid more than $1 billion in digital assets to its community of 1.2 million users - marking the most yield paid out to users by any crypto platform. Celsius achieved this feat in three years, a time during which the total assets on the platform have grown to more than $25 billion today.
"This achievement is a testament to the hard work our team has put in to deliver for our community and to drive unstoppable growth for Celsius," said Alex Mashinsky, CEO of Celsius at Web Summit 2021. "This impressive milestone shows that both doing good and doing well is possible."
Celsius provides yield on 46 different assets - including Bitcoin, Ethereum and stablecoins - with rewards paid out weekly on every Monday. The platform maintains some of the highest rates in the crypto lending industry, generating yield by lending to institutions, exchanges, and individuals in addition to staking, DeFi and mining operations.
With Celsius paying out yield at a rate of $15 million per week while banks continue to pay on average 0.01% - it is easy to see why so many have chosen to open accounts with Celsius and earn yield on crypto.
As part of its Proof Of Community (POC) and Rewards Explorer, Celsius provides real-time data about its assets, loans, users and rewards paid. Celsius users pay no fees and get weekly yield payments.
The news follows Celsius' recent announcement of a $400 million investment led by WestCap, a growth equity firm, and Caisse de dépôt et placement du Québec (CDPQ), a global investment group. The investment will reflect a valuation of more than $3 billion for Celsius.
Celsius helps hundreds of thousands of consumers worldwide to find the path towards financial independence through a compounding yield service and instant low-cost loans accessible via a web and mobile app. Built on the belief that financial services should only do what is in the best interest of the customers and community, Celsius is a blockchain-based fee-free 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.
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