Celsius Network is an industry-leading cryptocurrency interest-earning platform that addresses the financial needs of today's consumers worldwide through a high-interest income and low-cost loans accessible via a mobile app.
Celsius Network is a new way to earn, borrow, and pay on the blockchain.
Celsius Network was founded in 2017 by Alex Mashinsky. The company is headquartered in London, London, United Kingdom.
Celsius, built on the belief that financial services should only do what is in the best interests of the depositor community, is a Blockchain-based community platform where membership provides access to curated financial services that always act in the best interests of our depositors and are not available through traditional financial institutions.
Crypto holders can earn rewards by transferring their coins to their Celsius Wallet and borrow USD against their crypto collateral at interest rates as low as 1% APR.
Celsius recently reported that as of October 8, 2021, total assets crossed the $25 billion threshold - including more than 1 million customers registered with the platform - having paid more than $850 million in interest to users through its Earn product in just over three years.
Celsius is backed by WestCap, Caisse de dépôt et placement du Québec (CDPQ), Tether Ltd, BnkToTheFuture, and others. The company raised an additional $350M on Nov 24, 2021. This is an extension of its $400M Series B raised in Oct 2021, bringing the round total to $750M. This new round brings Celsius' total funding to $833.8M to date. The latest investment could give the company a $10B valuation. Celsius was last valued at $3B after the 1st tranche of Series B.