Banks and financial institutions have a lot of flaws, and the blockchain industry is working hard to eliminate them.
Financial needs of the modern consumer all over the world are finally addressed via a democratized interest income and lending platform.
This can be accessed through a mobile application created by the Celsius Network.
Offering access to critical financial services
Celsius was built with the goal of supporting the best interests for the community and offers access to financial services that are not provided by traditional financial institutions.
Crypto enthusiasts can earn interest if they transfer their tokens to the Celsius Wallet and borrow USD against the crypto collateral.
After a lot of effort, Celsius Network managed to become the industry-leading crypto lending and borrowing platform.
Celsius Network revealed the listing of CEL token on Liquid exchange
The Celsius Network just revealed their token CEL will be listed on Liquid, a trading platform that links fiat and crypto.
It’s important to highlight that Liquid is the world’s largest crypto-fiat platform by transaction volume that’s regulated in Japan.
Celsius’ motto is “unbank yourself,” and another aim is to give back up to 80% of its profits to depositors.
They basically plan to achieve what banks are not doing. The listing of CEL on Liquid comes at a great time because Celsius managed to achieve some impressive milestones in the industry.
Celsius’ most important achievements so far
- The platform has originated more than $1.2 billion worth of coin loans since 2018.
- The platform passed over $200 million AUM in customer deposits and completed more than 100k coin load trades.
- Celsius boasts over 30,000 registered users.
- The platform pays the industry’s highest interest rates on more coins including USDC at 7.1%, DASH and 7.5% and BTC at 6.4%.
- CEL token holders can earn 20% more in interest and they pay 20% less on the lowest rates provided.
- And last but not least, Celsius returns up to 80% of its income to depositors. It’s worth noting that according to reports, Binance returns 20% and Nexo, 30%.
Alex Mashinsky, CEO of Celsius Network said, “We took our time picking an exchange because it was most important to us to select one that’s supportive of the space and serves the best interests of the community. Liquid is one of the top exchanges in terms of transparency and using innovative tech to secure its users’ assets.”
