Depositors from more than 100 nations have received interest paid from over $1.2 billion in loans issued to hedge funds and crypto exchanges.
Celsius Network, a top cryptocurrency lending, and borrowing platform has announced its initial exchange offering (IEO) on Liquid, a leading crypto exchange focused on bridging the gap between the traditional financial system and the crypto space.
The primary objective of establishing Celsius Network is to provide products that foster financial inclusion such as high interest-earning wallet and low APR loans to digital assets and stablecoin investors.
According to its motto: “unbank yourself,” Celsius remains determined to continually act in the best interest of the masses, while also giving back up to 80% of its profit back to its depositors, a feat that traditional banks can never achieve.
Celsius is set to launch its CEL coin through an IEO on the Liquid Exchange and the project has achieved numerous milestones in recent times, including:
- Celsius has attracted more than $1.2 billion worth of crypto assets from non-U.S. residents since July 2018.
- Customer deposits under management have surpassed $200 million AUM
- Celsius has facilitated more than 100,000 crypto loan transactions
- Celsius has more than 30,000 registered clients
- Celsius has the most competitive interest rate in the industry, including BTC at 6.4% DASH at 7.5% and USDC at 7.1%
- Celsius CEL coin holders earn 20 percent more in interest and pay 20 percent less.
Celsius investors share up to 80 percent of Celsius’ profits.
Commenting on the matter, Alex Mashinsky, CEO of Celsius Network stated that:
“We took our time picking an exchange because it was most important to us to select one that’s supportive of the space and serves the best interests of the community. Liquid is one of the top exchanges in terms of transparency and using innovative tech to secure its users’ assets.”
About Celsius and Liquid
Celsius Network is poised to see to the needs of users from across the world, via its democratized interest income and lending platform available through a mobile app.
Crypto investors from various jurisdictions can earn interest by depositing their coins into their Celsius wallet and borrow fiat USD using their digital assets as collateral at interest rates as low as 4.95 percent APR.
Established in 2014, Liquid cryptocurrency exchange enables users to have access to crypto trading services powered by blockchain technology.
Liquid has offices in Singapore and Vietnam, combining a strong network of global associates with vast experience in banking to provide is clients with the highest quality products and services.