Celsius Network is developing an Ethereum-based lending platform. They aim to replace banks as centralized loan providers, and to allow cryptocurrency holders to earn returns by lending. Through the Celsius Wallet, users will be able to lend and borrow coins at significantly reduced rates compared to traditional financial institutions. The Celsius App is available on iOS and Android, and enables users to send funds with no fees.

ETHLend is developing a decentralized lending network powered by the LEND token. It connects lenders and borrowers in an Ethereum-based lending platform that is more transparent and has lower fees.