Celsius Network has announced a $15 million equity funding round to be promoted by BnkToTheFuture. The equity offering is said to be for both U.S. & non-U.S. investors.
Celsius Network claims it has seen rapid growth since its launch in July 2018 with over 100,000 active wallet accounts and more than $6.2 billion in coin loan originations. The firm reports that it manages over $630 million in assets. The crypto lending/borrowing sector has emerged as a hot sector in digital assets as holders seek to generate passive income and traders look to boost income.
In 2018, Celsius filed a Reg D offering with the Securities and Exchange Commission indicating its intent to raise up to $50 million in a “purchase agreements for cryptocurrency.” At the time of the filing, the offering had raised over $24 million.
BnkToTheFuture reports that is has now facilitated almost $850 million of investments in the digital asset sector.
Celsius Network CEO Alex Mashinsky said that after allowing thousands of people to participate in their initial coin offering (ICO) they are partnering with BnkToTheFuture to allow their community to participate in their equity offering.
Simon Dixon, CEO BnkToTheFuture, said they could not wait to work with Celsius:
“Cryptocurrency created a new financial system for us all, BnkToTheFuture was the first Securities business in the world to support Cryptocurrency companies and Celsius is now redefining the Cryptocurrency lending and borrowing market. It’s a match made in heaven. We look forward to becoming a strategic investor in Celsius to build the next generation of financial products together funded by the community for the community.”
Interested investors must qualify under local securities law to participate in the offering. According to the company, investors may participate at a minimum of $1000.
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