LONDON, Oct. 16, 2019 /PRNewswire/ -- Celsius Network (https://celsius.network/), the industry-leading cryptocurrency interest income platform, announces today it has added support for four new stablecoins from TrustToken (https://www.trusttoken.com), one of the leading global stablecoin providers.
The Celsius Network platform now pays up to 10% APR on 10 different stablecoins pegged to stable currencies around the world including: True Great Britain Pound (TGBP), True Australian Dollar (TAUD), True Canadian Dollar (TCAD), True Hong Kong Dollar (THKD), True US Dollar (TUSD), Paxo's PAX, MakerDAO's DAI, Coinbase's USDC, Gemini's GUSD, and Tether's USDT.
Celsius is able to offer the highest rates because it is consistently earning higher returns on its deposits and distributes 80% of its income back to its depositors. In addition to earning interest on stablecoin deposits, users can deposit crypto and earn interest or use their crypto as collateral to request a loan issued in any of its supported stablecoins for as low as 3.46% APR.
"Stablecoins built on the blockchain allow us to move dollars in the form of digital tokens over the internet, and that enables us to earn more for our borrowers from all over the world," said Alex Mashinsky, CEO of Celsius Network. "By offering high interest income on stablecoins, Celsius enables anyone around the world to earn 10x more on their dollars than they ever could at a traditional bank."
"TrueCurrencies already offer transaction speeds beating traditional money transfers and the lowest costs of any stablecoin, but to grow adoption all cryptocurrencies need to grow utility," adds Tory Reiss, TrustToken Co-founder. "That’s why we’re excited to work with such incredible partners to help bring high-interest bearing products to even more people around the world, denominated in all five of our international fiat-backed tokens, and are currently far outperforming traditional returns."
About Celsius Network
Celsius Network addresses the financial needs of today's consumers worldwide through 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
TrustToken is modernizing financial infrastructure to make economic opportunity open to all.
Our TrueCurrencies (TUSD, TGBP, THKD, TCAD, TAUD) are the world's first independently-verified fully collateralized stablecoins, trading on top exchanges like Binance, Huobi, and OKEx and generating billions in monthly trade volume. TUSD users enjoy near instant transactions, the lowest transaction costs of any stablecoin, easy exchange between fiat, and obsessive customer service.
Founded in 2017, the TrustToken team is based in San Francisco, made up of talented people from Airbnb, AMEX, Apple, Coinbase, Facebook and Google - and our puppy from Texas. We're backed by top investors at a16z crypto, BlockTower Capital, Founders Fund Angel, Danhua Capital, GGV Capital, Jump Capital and Stanford StartX.
Contact: John Hyatt, 720-951-2080
SOURCE Celsius Network