Celsius Now Offers up to 10% Return on TrueUSD Lending Service

Celsius Network, a cryptocurrency lending and borrowing platform has partnered with TrustToken, the team behind dollar-pegged TrueUSD (TUSD), to offer up to 10 percent interest on four new stablecoins.

In a push to engage more investors, holders of TrueUSD can now leverage their funds to generate annual returns under the new partnership between the token’s developer and the crypto lender. TrustToken has similar arrangements with Cred, which also offers a decentralized lending platform that allows customers of stablecoin issuers, exchanges, and wallets to earn up to 10 percent interest on their crypto-shares.

"Stablecoins built on the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term 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.

Although they didn’t reveal many details about the deal specifications, under the terms of the partnership with Cred TrueUSD holders must transfer their tokens to a wallet and commit their funds for six months. Interest is being paid on a quarterly basis, and users will have the option to auto-renew for additional three months periods after their initial term expires.

Celsius is also expecting the addition to bring more liquidity to its platform. The startup lends the assets to miners, investment funds, retail investors, and other digital asset companies “on a guaranteed and collateralized basis.” It also allows clients to access several services such as instance depositing digital assets in the Celsius wallet and using their Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term as collateral to get fiat loans. Eighty percent of returns from these entities are passed on to holders, the company says.

Previously, Celsius has supported other eight stablecoins, including Coinbase's USDC, Gemini's GUSD, and Tether's USDT.

"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.