Celsius Network Announces 25+ Cryptocurrencies as Loan Collateral

Celsius Network announces today the offering of loans against 26 different cryptocurrencies. Starting today, every asset accepted in the Celsius Network wallet will also be approved for loan collateral. Users can now borrow stable coins and fiat against any asset they hold with Celsius at the lowest rates in the industry.

The long list of asset options includes new additions such as: stablecoins like TUSD, PAX, USDT, and GUSD, altcoins such as DASH, ZRX, XLM, and for the first time the firm’s native token, CEL.

“Celsius users are a community of HODLers. They don’t want to sell, but sometimes they need cash,” says Celsius CEO, Alex Mashinsky. “Now we are able to give every HODLer the opportunity to borrow the cash they need without selling any of their assets.”

By allowing users to borrow against over 25 cryptocurrencies, with flexible options for loan-to-value ratios and interest rates, Celsius Network offers the most customizable loans for cryptocurrency holders. Celsius recently announced its 1% APR loan option in May.

Celsius Network offers loans in over 200 countries via its mobile app. App users transfer crypto to Celsius as collateral and can borrow 25%, 33%, or 50% of its value in cash or stablecoins. Interest on loans starts just under 1% APR with no credit history or credit check required.

SOURCE Celsius Network

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