Celsius Network Reports More than $4 Billion Cryptocurrency Loans

LONDON, United Kingdom – Celsius Network announced that it had reached a cryptocurrency loan mark of $4.2 billion. This renown cryptocurrency platform reported a deposit of $450 million. It also reached over $5 million in interest revenue for the depositors of the company.

The company showed its growth upon disclosing their deposits on November 12, 2019. This announcement revealed that it’s one of the fastest and most significant growth rates among other digital currency platforms.

This leading platform commenced their $2 billion loans in August, wherein they have digital currency deposits of over $300 million.

Since Celsius Network’s launch in 2017, it immediately earned numerous milestones in the industry. The reported details were the achievements of the company, wherein they collected more than $4.45 billion virtual currency loans with the present price of Bitcoin. The company achieved it since it started its lending procedures in July. Moreover, there was an increase of 93% from its $2.2-billion earnings.

Celsius Network accomplished customer deposits worth $450 million, and it includes security from the management’s loads. Their earning was 50% higher than their $300-million income in August. Furthermore, this company shared that their initial interest payments increased by 66%, wherein it jumped from $3 million to $5 million.

Alex Mashinsky, the Celsius Network’s CEO, mentioned that their deposit rates attracted a variety of clients. These customers include those who have low saving accounts and those who are searching for profits through cryptocurrency.

Mashinsky also mentioned that their returned 80-percent loan interest to their clients who invest without minimum caps, extra fees, value, or penalties. The growth rate displays that a company that values its clients are in demand.

As of today, Celsius Network has over 50,000 members. Their clients range from retail depositors to institutional, and they are across the world to more than 150 countries. It also shared that they have 150 institutions, which include some of the well-known trading companies.

This platform is one of the transparent organizations that comes with available information about loans, deposits, and memberships for live app access. It also intends to address the financial needs of clients through lending platforms and interest income. These platforms are founded on a blockchain, and these are also reachable via mobile applications. It’s made on the certainty that funding services should focus more on profiting the investor.

Investors with cryptocurrency can earn through transferring their virtual coins to Celsius Wallet and use US dollars to use as their funds to accrue interest rates.