Alex Mashinsky on killing the banks with cryptocurrency: Part 1

“We pay 7% to 10% interest. You can take your dollars or euros, you convert them into stablecoins like Paxos or USDC, deposit the coins in the Celsius app, I lend them out. I make 9% to 12%, I give you 80% of what I make back,” Alex Mashinsky explains. “I cannot do it with dollars. For that I need a banking licence. But with stablecoins I can pay you up to 10% anywhere in the world and not have a banking license. This app is helping the depositor, not the bank.”

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By Andrew Munro on Finder – June 7th 2019

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