Celsius Network crosses 50,000 BTC in-app deposits, sees record growth in 2020

The company announces record growth despite COVID-19 and recent economic downturn.

News provided by

Celsius Network

Apr 28, 2020, 14:19 ET

LONDON, April 28, 2020 /PRNewswire/ -- Celsius Network (www.celsius.network), the industry-leading interest income platform, announced today that over 50,000 BTC have been deposited into Celsius apps since the company launched its product in August 2018. This announcement comes just months after Celsius reported crossing 20,000 BTC deposits in its first year.

Under current market conditions, the BTC deposited into Celsius equals over $380,000,000 in USD. The company attributes its increase in BTC deposits to its record growth, which is currently on track to outperform 2019 by over 60%. Over the last several months, Celsius has experienced all-time highs in both app downloads and unique depositors acquiring nearly 100,000 active users to date.

With the mission of making fair, rewarding, and transparent financial services accessible and freely available to millions around the world, Celsius Network's model directly contrasts the traditional banking model. Celsius members can earn up to 10% APY on 25 of the top cryptocurrencies, and BTC holders can earn the highest returns in the industry on their Bitcoin deposits with rates up to 7.27% APY on the Celsius platform.

Adding to its record growth, Celsius Network's other recent achievements include:

  • Over $6.2 billion worth of coin loans originated since July 2018
  • Over $794 million AUM in customer deposits and collateral from loans
  • Over 160,000 lending transactions.
  • Nearly $11 million in interest payments distributed
  • Over 91,000 active users
  • More earnings in BTC and ETH than all its competitors combined, returning up to 80% of its revenue to depositors

"During these times of instability and uncertainty, the use case for Celsius has never been stronger," says CEO Alex Masinsky. "Celsius has experienced tremendous growth, accelerating in March and April despite COVID-19."

About Celsius Network

Celsius Network addresses the financial needs of today's consumers worldwide through a democratized interest income and lending platform 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 modern platform where membership provides access to curated financial services that are not available through traditional financial institutions. Find out more at www.celsius.network

Contact

Kristen Ryan
[email protected]

SOURCE Celsius Network

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