Major Bitcoin lending companies BlockFi, Celsius Network, and Nexo beat new records.
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On March 11, crypto trading and loan providing platform BlockFi announced raising $350 M in Series D funding headed by Bain Capital Ventures, partners of DST Global, Pomp Investments, and Tiger Global.A day earlier, Celsius Network posted on Twitter that its AUM (asset under management) hit $10 B.
Thanks to you, #Celsians, today we can announce that we've surpassed $10 BILLION in cryptocurrency assets. Onward and upward! 🚀https://t.co/c8k5S5Geln pic.twitter.com/WHGCSYUAje
— Celsius (@CelsiusNetwork) March 10, 2021
As for Nexo, in January 2021, Nexo reported having over $4 B in AUM.
In total, Celsius Network, BlockFi, and Nexo hold around $30 billion in assets under management.The growing AUM numbers are connected not only with the demand in crypto but also with surging prices.
The three above-mentioned firms play a great role in cryptocurrency lending and borrowing. They offer high yields paid in crypto assets. Cryptocurrency holders can use their assets as collateral to get loans.
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The three firms offer lending rates of around 4-6% for major cryptocurrencies and up to 10.5% on stablecoins.