News EOS holders can now earn interest through crypto lender...

EOS holders can now earn interest through crypto lender Celsius Network


- Advertisment -

Cryptocurrency lending platform Celsius Network announced today the latest token to be supported by its platform: EOS, the fifth-largest cryptocurrency by market cap.

Celsius customers will now be able to stake EOS tokens and earn interest on their holdings. They can also borrow cash or stablecoins against EOS funds for as little as 3.45 percent APR, according to the company’s statement.

EOS launched in 2017 through an ICO issued by open-source software publisher The coin currently trades for roughly $3.28 per token, according to data from Messari recently settled charges with the Securities and Exchange Commission over the 2017 ICO, which the Commission alleges constituted an illegal offering of securities. In a controversial move, the SEC ordered to pay merely half of one percent of the purported $4 billion that the company raised in its token sale, roughly $24 million. CEO Brendan Blumer expressed his enthusiasm regarding the coin’s addition to Celsius in a statement: “We are excited to see the EOSIO ecosystem growing with Celsius’ support for EOS,” he said. “ believes that retail deposit solutions are an important growth nexus for mainstream adoption of digital assets as transparent and competitive stores of value.”

As a provider of stablecoin-backed loans, Celsius announced in mid-October that customers could now take out loans supported by the True Great Britain Pound (TGBP), the True Australian Dollar (TAUD), the True Canadian Dollar (TCAD) and the True Hong Kong Dollar (THKD). Prior, the company only offered loans supported by Tether (USDT), USD Coin (USDC) and the Gemini Dollar (USDG).

“We’re doing our part to help decentralization scale by adding hundreds of millions of new users to the digital asset community by offering innovative, customer-centric financial services, including borrowing and lending,” Celsius CEO Alex Mashinsky explained at the time.

Celsius Network claims to store nearly $400 million in assets and lent out approximately $2.2 billion in crypto-backed loans since October 2018.



Please enter your comment!
Please enter your name here

Latest news

What’s the future of decentralized blockchains?

When Bitcoin was new and not valued at anything or just a few cents anyone could join...

My 5 favorite free crypto tools & sites I use daily

So I often get asked by friends, or people visiting my site about new tips for exciting...

Cryptocurrency is The Last Kingdom Where You Can Keep Your Data Private

Data privacy has been a hot topic for quite some time now and particularly after the popularity...

How To Travel With Bitcoin: 9 Travel Companies Accepting Bitcoin

Bitcoin travel is a reality, as several travel companies now accept payments in cryptocurrencies for their services.
- Advertisement -EOS holders can now earn interest through crypto lender Celsius Network

Top 5 Ways To Build a Profitable Business in The Crypto Sector

The crypto industry has grown significantly despite criticism and a skeptical approach from regulators across the globe....

These 8 Cryptocurrencies Will Survive the Next Decade

Cryptocurrency is the future, we all have reasons to believe it. But are people ready...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you