With almost 1,000,000 customers, Celsius was the first to break through the $20B assets barrier for any CeFi or DeFi platforms
Celsius, the leading global cryptocurrency earning and borrowing platform confirms $20,366,621,718 in cryptocurrency assets as of August 13. Celsius conducted its quarterly internal audit using technology provided by third-party blockchain analysis company, Chainalysis, and using an internally developed methodology that was also verified by Chainalysis.
In less than one year, Celsius has grown its total asset holdings from $1 billion to over $20 billion. As part of its Proof Of Community (POC) and rewards explorer, Celsius provides real-time data about its assets, loans, users and rewards paid. This asset growth trajectory continues with Celsius confirming it is adding close to $1B a month in new assets, as the company trends towards the number one position in total asset holdings in the crypto industry.
Read More: Kraken Donates $250,000 to Advance Ethereum’s Blockchain Upgrade Efforts
“Celsius continues to do what was once thought impossible, by redefining the way consumers earn and borrow on the blockchain,” said Alex Mashinsky, CEO of Celsius. “For years the traditional banking business has conditioned us to accept steep fees and no yield earnings on holdings as the status quo. With that failing model ripe for disruption, we built Celsius to give consumers what banks never could — a community-oriented platform that provides income and financial independence by offering low-cost lending and high-interest yield on 43 cryptocurrencies. At the start, we set a goal to bring the next 100 million people into crypto. Today, as we sit at over 950,000 users worldwide and over $20 billion in assets, we’re well on our way.”
Read More: Blockchain Safety: Why You Should Create a New Bitcoin Address Every Time?
Celsius attributes its exponential growth to its community-centric model by putting its users first instead of shareholders. Through the Celsius platform, customers can earn yield on their crypto at rates of up to 17% APY on 43 cryptocurrencies, paid out weekly. Users can also use their crypto as collateral to borrow dollars or stablecoins at rates as low as 0% and can earn rewards in-kind or in CEL token.
Read More: Currency Agnostic Blockchain Debuts for Global Trade
