By
Temitope Olatunji
February 2nd, 2024
Celsius controls crypto worth over $10 billion and offers its services across over 100 countries globally.
Celsius Network has emerged as the winner for the “Best Cryptocurrency Wallet” at the fifth-annual FinTech Breakthrough Awards held on the 5th of April. FinTech Breakthrough is an independent market intelligence organization that conducts annual awards for top tech companies. The recent event attracted over 3,800 nominations across the globe.
As stated on the company’s website, the last annual FinTech Breakthrough Awards aimed to recognize fintech giants and products in the technology space.
Celsius Network at FinTech Awards
The managing director of FinTech Breakthrough, James Johnson commented on the event. He said Celsius is a “worthy mission” that offers people better opportunities to access financial freedom. Expressing his satisfaction with Celsius’s new award as the best crypto wallet. Johnson said:
“We are thrilled to recognize Celsius for their success and momentum in this mission, serving as a true example of breakthrough technology in the FinTech space. We extend our sincere congratulations to the entire Celsius team for winning “Best Cryptocurrency Wallet.”
Celsius controls crypto worth over $10 billion and offers its services across over 100 countries globally. The primary service Celsius provides to its customers is generating yields on cryptocurrencies via its vast crypto-lending business. About 80% of Celsius’ revenues are made up of rewards paid to users of the network.
Alex Mashinsky, the CEO of Celsius, expressed his appreciation over the new award as the best crypto wallet. Mashinsky attributed the recognition to the “hard work and innovative thinking from the entire Celsius team.”
Speaking further, the CEO talked about the company’s growth over time. He said:
“Our approach has translated into more than just a crypto service. We are now a community of over 5,000 believers. Believers in blockchain, believers in high rewards earning assets, and believers in achieving financial freedom.”
Other Winners in Crypto Category
Apart from Celsius, there were other winners under the cryptocurrency category in 2021. MoonPay won the Best Cryptocurrency Purchase Site. Also, Bitstamp got the Best Cryptocurrency Exchange and IPC as the Best Cryptocurrency Info Source.
Notably, the crypto market has been on the rise. Recently, the combined market cap for all cryptocurrencies reached more than $2 trillion. The crypto market hit the new milestone about three months after recording a $1 trillion market value.
Also, the increasing demand for cryptos by institutional investors is triggering the surge in Bitcoin and altcoins.
In addition, 100 crypto projects have hit a $1 billion market cap. Before now, reports showed that 52 blockchain projects were at a $1 billion market cap level.
Some of the categories included in the Fintech Breakthrough Awards are Leadership, Consumer Lending, Business Lending, Wealth Management. Also, FinTech Breakthrough noted Personal Finance, Payments, Investments, Consumer Banking, Financial Research and Data. Others are Bing Infrastructure, Fraud Prevention and Transaction Security, Crowdfunding, InsurTech, RegTech, and Procurement.