April 21, 2024

Celsius Network issued $ 4.25 billion cryptocurrency loans

Cryptocurrency lending platform Celsius Network reported that the total amount issuedCryptocurrency Loan Company Exceeded $ 4.25 Billion

The platform was launched in July 2018, and, according toAs of August 1, 2019, it issued loans worth $ 2.2 billion. Thus, the growth in lending amounted to 93%. Now the company's customers are more than 50,000 people from 150 countries and more than 150 organizations.

Celsius Network reports storing $ 450 million indeposits and funds to secure loans under management. The growth of this indicator since August 1 was 50% from $ 300 million. Users were paid $ 5 million in the form of interest, which is 66% higher than the figure for August 1.

“Celsius repays 80% of our loansinvestors without any minimums, restrictions, fees or penalties. Our incredible growth shows that there is a high demand for loan platforms that put the needs of investors in the first place, ”said Alex Mashinksy, CEO.

In August, it was reported that the cryptocurrency loan market had reached nearly $5 billion, but yields for lenders were less than 2%. At the same time, 65% of the market is served by Celsius and Genesis.