Holders Can Now Earn up to 10% APR on Top 5 Different Coins Pegged to Five Global Currencies
The Celsius Network platform now pays up to 10% APR on 10 different stablecoins pegged to stable currencies around the world including: True Great Britain Pound (TGBP), True Australian Dollar (TAUD), True Canadian Dollar (TCAD), True Hong Kong Dollar (THKD), True US Dollar (TUSD), Paxo’s PAX, MakerDAO’s DAI, Coinbase’s USDC, Gemini’s GUSD, and Tether’s USDT.
Celsius is able to offer the highest rates because it is consistently earning higher returns on its deposits and distributes 80% of its income back to its depositors. In addition to earning interest on stablecoin deposits, users can deposit crypto and earn interest or use their crypto as collateral to request a loan issued in any of its supported stablecoins for as low as 3.46% APR.
“Stablecoins built on the blockchain allow us to move dollars in the form of digital tokens over the internet, and that enables us to earn more for our borrowers from all over the world,” said Alex Mashinsky, CEO of Celsius Network. “By offering high interest income on stablecoins, Celsius enables anyone around the world to earn 10x more on their dollars than they ever could at a traditional bank.”
“TrueCurrencies already offer transaction speeds beating traditional money transfers and the lowest costs of any stablecoin, but to grow adoption all cryptocurrencies need to grow utility,” adds Tory Reiss, TrustToken Co-founder. “That’s why we’re excited to work with such incredible partners to help bring high-interest bearing products to even more people around the world, denominated in all five of our international fiat-backed tokens, and are currently far outperforming traditional returns.”