Celsius launches crypto-backed loans in California at 0% APR

HOBOKEN, N.J., Aug. 16, 2021 /PRNewswire/ -- Celsius, the leading global cryptocurrency earning and borrowing platform, announced today the opening of its retail-lending services to customers in California. Earlier this month, Celsius received its Finance Lender license in California, enabling the company to expand its operations in the state and provide Californians with even more industry-leading financial tools.

Currently, borrowers in California can request a Celsius loan issued in USD and stablecoins against 39 cryptocurrencies at 0% APR (25% LTV). With a minimum request amount of just $500, Celsius is now one of the most accessible and affordable lenders in California. Customers in California also have the option to receive educational materials from Celsius through their Credit Education Program offering.

This announcement is part of Celsius's continued effort to allow more people to access fair, transparent, and low-cost financial services. Celsius allows its users to take out loans instantly, without proof of income or credit check, giving them the security of cash-in-hand, without selling their digital assets.

"Our California customers have waited for this day, and we are thrilled to now provide them with the best way to borrow against their crypto assets," said Aliza Landes, Celsius's VP of Lending. "This represents a big milestone for Celsius as we continue to secure licenses and registrations in new jurisdictions and allow millions of new people to borrow better."

Celsius CEO Alex Mashinsky added, "This is a special moment for Celsius community. California has one of the largest populations of crypto holders in the world, and one of the largest economies in the world. We see this as a major opportunity to continue growing our community and creating more value for HODLers everywhere."

Eligible borrowers can apply for a loan directly through the Celsius mobile app. To learn more about Celsius loans, please visit: https://celsius.network/california-crypto-loans

Loans made or arranged pursuant to a California Finance Lenders Law license. Celsius is licensed by the California Department of Financial Protection and Innovation under the California Finance Lender Law License No. 60DBO-133776. Celsius loans will be originated by Celsius Lending LLC pursuant to this license.

About Celsius
Celsius helps hundreds of thousands of consumers worldwide to find the path towards financial independence through a compounding yield service and instant low-cost loans accessible via a web and mobile app. Built on the belief that financial services should only do what is in the best interest of the customers and community, Celsius is a blockchain-based fee-free platform where membership provides access to curated financial services that are not available through traditional financial institutions. For additional information please visit www.celsius.network.

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SOURCE Celsius Network

Posted In: Banking/Financial ServicesMobile devices/AppsNew Products/ServicesFintechPress Releases
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