LONDON--(BUSINESS WIRE)--Celsius Network (https://celsius.network/), the industry-leading cryptocurrency platform, announces today it has increased interest rates for stablecoin deposits to 12.03% APR. Users who choose to earn interest in Celsius Network’s blockchain-based CEL token can earn up to 30% more than the 9.25% depositors who are paid in-kind on their coins. Celsius is raising its rates because it is consistently earning higher returns on its deposits and distributes 80% of its income to its depositors; as it earns more, it distributes more. Unlike other platforms, such as Binance that use 20% of its profits to buy back BNB, Celsius has put its depositors first and has consistently given more returns to more users than anyone else.
The Celsius Network platform currently supports 6 stablecoins: PAX, DAI, USDT, TUSD, GUSD, and USDC. In addition to earning interest on stablecoin deposits, users can also request a BTC collateralized loan issued in stablecoins for the lowest rates available, starting at 4.95% APR. These are available to all users through the mobile app. Celsius’ low rates are powered by its earned returns on the collateral provided.
“Stablecoins provide a necessary alternative to banking hours and 5 day work weeks banks imposed on us. Stablecoins increase the velocity of money and fungibility of value on the blockchain, and that enables us to earn more for them from borrowers all over the world,” said Alex Mashinsky, CEO of Celsius Network. “By offering high interest income on stablecoins, Celsius enables anyone to earn 10x more on their dollars than they ever could at a traditional bank.”
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