Celsius was born in early 2017, when Alex approached the initial team members with his crazy idea to create a business that gives most of its revenue back to its community. After a lot of talking, a lot of thinking and a lot of planning, the company was formed and the ICO was announced. It ran from early January 2018 to late March 2018 and totaled ~$53,500,000 USD, which was a great start to the project. 4 months after the ICO ended, interest rates were published and the weekly payments started, which was in July of 2018. In just one year of operation, Celsius had already done $2.2B USD worth of coin loan originations, saw over 2000% growth and had paid out over $4,000,000 USD worth of interest to its customers
They have also been rolling out very regular updates, and have expanded support from 6 to 19 (soon 26!) coins & tokens, including stablecoins and staking coins. So much work has gone into the development of the products that Celsius offers, such as interest earning, CelPay, fiat borrowing and staking as a service where Celsius pays over 95% of the profit from its Dash masternodes back to its holders, and development has not slowed down in the slightest. In fact, Celsius has continuously expanded the team and currently counts about 50 people, including 25 developers. We expect to see many incredible announcements, achievements and more growth from the company in the coming few months, such as fiat gateway, in app exchange, more coins, lower loan minimums, loan automation and further global expansion of its services.
The ultimate goal of Celsius is to bring 100,000,000 people into crypto, since that kind of adoption is what we need for the whole decentralization movement to succeed. Celsius is aiming to provide its customers with lower borrowing rates and cheaper credit, higher interest earning and fair, transparent financial products that will help them to capitalize on opportunities, and achieve financial freedom.
Alex Mashinsky, the inventor of voice over IP and a serial entrepreneur with over 3 billion dollars in exits, is now working on Money over IP might sound super impressive, but unlike other crypto companies, Celsius is by no means a one man show. With a strong system of checks and balances across the team, the visionary founder is supported by an equally impressive team. And, their team is growing month after month.