The volume of assets under the management of the Celsius Network increased to $2.2 billion

The cryptocurrency credit platform Celsius Network has announced that the amount of user deposits on the platform has exceeded $2.2 billion.

In just six months
the volume of assets under the company’s management has doubled. The number of users was 215,000, and the amount of interest paid on user deposits reached $80 million since the launch of the platform in July 2018. The company’s own funds, including CEL tokens, reached $680 million.

The “centralized financing” project of the Celsius Network is called an alternative to the DeFi platforms. The company allows users to make cryptocurrency deposits on the platform and issue them to other users at interest.

“We created the principle of profitable farming and launched the DeFi revolution. We have paid out more profit to our clients than any other centralized or decentralized financing project. And we are not going to slow down, ” said Alex Mashinsky, CEO and founder of Celsius.

In early November, Celsius and Horizon announced
about cooperation for the development of a system to increase the transparency of lending.