According to a <a href="https://blockfi.com/blockfi-news/usd-wires/">press release</a> on March 10, BlockFi users can now purchase digital currencies using wire transfer. As a result, 8.6% of its annual yield will be accumulated. The BlockFi wire transfer service has been supported by Silvergate financial services company, which will enable both domestic and global transfers.

Zac Prince, BlockFi's founder states that Bitcoin (BTC) is the firm's most popular crypto followed by Ether (ETH) and stablecoins like USD coin (USDC). He adds that Millennial's and Generation X clients will likely own Ethereum and Bitcoins, while the older generations will settle for stable coins since they are more risk-free.
<h2>Plans and Investments for New Products</h2>
In February, BlockFi secured $30million from series B funding; and plans to use the money in expanding its services by rolling out products such as a mobile application; that will be accessible to its mainstream clients.

Soon, BlockFi will be adding support for additional <a href="https://www.cryptoknowmics.com/crypto/crypto-trading-exchanges-in-india/">cryptocurrencies</a> including asset-backed coins and more stablecoins. It will also allow investors to gain interests in their investments.

Even though BlockFi is a crypto lender, it determines <a href="https://www.cryptoknowmics.com/crypto/plustoken-bitcoin-on-the-move-again-as-btc-price-see-a-10%25-decline/">Bitcoin’s growth;</a> depending on the number of consumers investing and using crypto for everyday sales. Its implementation of cash wire transfers is another service that will bring the adoption to reality.
<h2>Growth in the crypto Loan Industry</h2>
Crypto lending and banking services have begun to spur as digital services in different countries; allow clients to enjoy investments as they access banking services like cash transfers.

A number of developments have been noticed in the crypto loan industry. 

BitGo, which has the capacity to manage over 20%  of all the bitcoin transactions, revealed its plan to introduce an institutional level lending service.

Genesis, an over-the-counter digital trading firm has closed its fourth quarter with a high record in loan issuing since it commenced. It facilitates over $4.25 billion in loans since it began in March 2018.

You May Also Read.
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 	<li><a href="https://www.cryptoknowmics.com/crypto/blockfi-raises-30-million-in-series-b-funding-round/">BlockFi Raises $30 Million In Series B Funding Round</a></li>
 	<li><a href="https://www.cryptoknowmics.com/crypto/blockfi-lowers-interest-rates-to-attract-larger-cryptocurrency-deposits/">BlockFi Lowers Interest Rates To Attract Larger Cryptocurrency Deposits</a></li>
 	<li><a href="https://www.cryptoknowmics.com/crypto/blockfi-bug-helps-an-unknown-man-to-become-millionaire-for-a-day/">BlockFi Bug Helps an Unknown Man Become Millionaire for a Day</a></li>
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BlockFI Adds Support for Bank Wire Transfers to Purchase Crypto 

According to a press release on March 10, BlockFi users can now purchase digital currencies using wire transfer. As a result, 8.6% of its annual.. %

I'm a believer in decentralization. An enthusiastic author, web geek &amp; writer with experience writing for tech, digital, and cryptocurrency blogs.

BlockFI Adds Support for Bank Wire Transfers to Purchase Crypto

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