LONDON, July 30, 2020 /PRNewswire/ — Celsius Network, the industry-leading cryptocurrency rewards-earning platform, right now introduced the addition of Binance’s BUSD stablecoin to the Celsius cellular app. Customers can now switch and maintain BUSD of their Celsius pockets and earn as much as 11.9% APY (Annual Percentage Yield).
Binance, the worldwide blockchain agency behind the world’s largest digital asset trade by buying and selling quantity and customers, issued BUSD, the 1:1 USD-denominated stablecoin authorized and controlled by the New York State Department of Financial Services (“NYDFS”), with Paxos final September. To date, BUSD has grown into one of many high 5 stablecoins on this planet, recording greater than 1 billion USD in tokens issued and a market cap as excessive as 200 million USD.The Celsius Network platform now presents as much as 11.9% APY on BUSD and 11 different stablecoins. Rewards on BUSD might be earned in BUSD or CEL token.
“Stablecoins help us bridge the gap between the traditional economy and the digital economy. Our goal at Celsius is to leverage these assets as a means of bringing the next 100 million users into crypto and away from traditional banks,” mentioned Alex Mashinsky, CEO of Celsius Network. “Offering close to 12% annually on your dollars is unheard of, but cryptocurrencies like BUSD give us the opportunity to change the equation and provide more value for individuals who otherwise would be left out of the equation.”
“We are pleased to collaborate with Celsius, allowing BUSD users extra rewards while holding BUSD. By bridging fiat with crypto, stablecoins like BUSD are serving as the key drivers for growing new users and boosting massive adoption of crypto. We will continue to expand the use cases of BUSD and enhance the crypto experience for all existing and new users,” mentioned Binance Chief Compliance Officer Samuel Lim.
About Celsius Network
Celsius Network addresses the monetary wants of right now’s customers worldwide by a reward earnings and low-cost loans accessible by way of a cellular app. Built on the assumption that monetary providers ought to solely do what’s in the most effective pursuits of the depositor neighborhood, Celsius is a Blockchain-based market platform the place membership supplies entry to curated monetary providers that aren’t out there by conventional monetary establishments. For extra info please go to www.celsius.network
Binance is the world’s main blockchain and cryptocurrency infrastructure supplier with a monetary product suite that features the most important digital asset trade by quantity. Trusted by thousands and thousands worldwide, the Binance platform is devoted to growing the liberty of cash for customers, and options an unmatched portfolio of crypto merchandise and choices, together with: buying and selling and finance, schooling, information and analysis, social good, funding and incubation, decentralization and infrastructure options, and extra.
For extra info, go to: https://www.binance.com
Contact: Anastasia Golovina, [email protected]
SOURCE Celsius Network