The provider of crypto-backed lending products, BlockFi, has <a href="https://blockfi.com/blockfi-news/blockfi-posts-100-revenue-increase-in-q2/" target="_blank" rel="noopener">notified</a> that since February 2020, the company is experiencing a growth in its monthly revenue.

In February 2020, BlockFi organized a Series B funding round, in which it earned a total of $30 million and since then its monthly revenue is increasing.

However, till now the crypto lender firm has not revealed the exact amount but is claiming that by the year 2021 the company would generate a revenue of $50 million.
<h2>BlockFi To Expand Its Client-Base To Asia </h2>
The New York-based mentioned that since February the company has also experienced that their earning is also increased. BlockFi has stated that now it has been planning to extend its client base in Aisa and elsewhere.

According to the reports, the latest Bitcoin halving which happened in May 2020, was also partially responsible for BlockFi’s latest gain.

While talking about the increasing revenue of the company, the CEO and Co-founder of BlockFi said that in recent time, the traditional finance is being dominated by the digital currencies and that is the reason the crypto finance service market is growing today. He further said that the experts of the old guard would continue to find an alternative tech so that they could develop the next frontier of finance.
<h2>Merrill Lynch Along With Rishi Ramchandi To Lead BlockFi In Asia</h2>
Recently, BlockFi has appointed Merrill Lynch, the former trader at Bank of America and Fintech entrepreneur Rishi Ramchandani to manage its business in Asia.

For almost 13 years, Ramchandani was the part of traditional financing in Asia, and now as he would be leading BlockFi in this region, therefore, he would have to expand the company’s presence in the Asian market.

Ramchandani would also have work on growing BlockFi’s institutional partnership and client roster in the market.

While updating its website, BlockFi also notified that till date, it has earned more than $800 million in deposits.

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BlockFi’s Monthly Revenue Doubles After Bitcoin Halving

The provider of crypto-backed lending products, BlockFi, has notified that since February 2020, the company is experiencing a growth in its monthly revenue.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

BlockFi’s Monthly Revenue Doubles After Bitcoin Halving

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