LONDON, Feb. 20, 2020 /PRNewswire/ -- Celsius Network (https://celsius.network/), the industry-leading interest income platform, announces today that it has paid its members over $11 million worth of BTC, ETH, and 20+ other coins in interest income. By consistently distributing 80% of its net lending revenues directly to its community of depositors, Celsius has paid more interest in BTC and ETH than all other industry platforms.
Celsius Network's quarterly update reflects the crypto platform's marked growth from just over three months ago (11/12/19), when it last published its key metrics. Today, Celsius reveals it has achieved over:
- $11 million in interest payments, a staggering increase of 120% from just $5 million on 11/12/19
- $6.2 billion of coin loans in today's BTC prices since beginning its lending operations in July 2018, an increase of 46% from $4.25 billion on 11/12/19
- $730 million in customer deposits and collateral from loans under management, an increase of 62% from $450 million assets on 11/12/19
- 75,000 users worldwide, an increase of 50% from 50,000 users on 11/12/19
"The mission of Celsius is to leverage blockchain technology as a means to create a new kind of financial service that acts in your best interests and brings back the concept of high yield interest income," said Alex Mashinsky, CEO of Celsius Network. "We are a members focused platform that is transparent, honest, and rewarding. That's why Celsius stands alone among the other crypto players in the space."
The Celsius borrowing and lending platform was the first and remains the best product of its kind that puts depositors before shareholders. Benefits to Celsius members include zero fees or penalties, compounding interest paid out weekly, no minimum deposit amount, and no lockups so that members may deposit and withdraw digital assets at any time. By focusing on always acting in the best interest of the depositor, Celsius continues to make waves in the financial services industry and gain traction with depositors from all over the world.
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
Media Contact: Kristen Ryan, [email protected]
SOURCE Celsius Network