Cryptocurrency rewards platform, Celsius, is holding more than $5.3 billion worth of digital assets, according to a press release shared with Coin Rivet.
In November, blockchain analytics firm Chainalysis was able to validate a figure above $3.3 billion, making Celsius the second-largest digital asset manager in the world.
Over the past three months Celsius has experienced significant growth, with 125,000 new users totalling more than 340,000 active users worldwide.
The Celsius platform supports more than 45 different tokens as well as Bitcoin, which is the company’s largest holding with 55,000 BTC held under management.
“The crypto industry as a whole grew substantially in 2020. Celsius is proud to contribute to this growth and to provide many people with yield income on 45 assets they can not find anywhere else,” said Alex Mashinsky, CEO of Celsius.
“As we see record numbers of institutions and retail users entering the space, they are looking for a store of value and yield to protect their assets from the debasement of the US Dollar.
“We have seen time and time again that customers choose Celsius for yield and loans because they trust us, and our goal is to always act in their best interests and consistently deliver industry-leading transparency.”
Celsius offers its customers weekly compounding rewards at rates up to 15% APY as well as the opportunity to borrow Dollars against their digital assets for as low as 1% APR.
For more news, guides and cryptocurrency analysis, click here.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.