Celsius Launches Free Cryptocurrency-Backed Loans in California
In particular, if the crypto loan / collateral ratio does not exceed 25%, the loan is free and reaches an impressive APR of 0%. What happened: According to an announcement on Monday, Celsius Network launched its service in California after receiving its financial lender license in the state – allowing the company to expand its operations and provide its service to Californians.
Loans can be issued in both US dollars and stablecoin, the minimum loan value is $ 500, the process is instant, does not require proof of income or a credit check.
The company says it is now “one of the most accessible and affordable lenders in California.”
Celsius Network also provides educational materials to its clients through its credit education program offering.
Celsius CEO Alex Mashinsky said that “California has one of the largest populations of crypto holders in the world and one of the largest economies in the world.” Therefore, he stressed that “this is a special time for the Celsius community”.
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