Crypto Lending Company, BlockFi Offering Interest to Platform Clients

BlockFi clients will as of now start earning interest on any amount of Gemini Dollar( GUSD), Ether( ETH) and Bitcoin (BTC). The New York-based crypto lending firm announced on Sep 13; that its clients will not be subject to any minimum deposit amounts to earn interest on their crypto balances. 

Founder and CEO of <a href="https://www.cryptoknowmics.com/crypto/cryptocurrency-loans-have-increased-in-2019-claims-report/">BlockFi</a>, Zac Prince said the growth of the platform; especially crypto investor activities around leveraging their wealth management products, was exciting. 

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Meanwhile, the BlockFi team noted its decision to waive the minimum deposit will make the platform’s BIA available to wider crypto users. However, remember the American crypto lender expanded its services into India at the beginning of the year. Currently, BlockFi has plans underway to enter the Latin America market, according to a <a href="https://www.forbes.com/sites/billybambrough/2019/04/23/a-gemini-backed-bitcoin-interest-account-is-opening-up-to-more-people/">statement by Flori Marquez</a>. In the statement, Marquiz states; 
<blockquote>“Earlier this year, we expanded into new markets such as India. By making BIA open to all; we plan to target clients in Latin America; where banking services and credit reporting are limited. U.S.-grade financial products have typically only been available; to high net worth individuals in countries like Argentina and Costa Rica. BlockFi’s platform leverages blockchain rails to make wealth management products available on a much broader scale.</blockquote>
BlockFi recently secured financing worth $18.3 million in a round of funding from Valar Ventures. The leading venture in the funding is one of three financial payment firms co-founded by Popular PayPal founder Peter Thiel. 

BlockFi entered the books of history for Fintech as the first crypto-based lending firm to receive institutional funding in US dollars; as a $50 million lending facility from Galaxy Digital. Meanwhile, the blockchain startup boasts of a $53 million client crypto assets portfolio under its management.

Crypto Lending Company, BlockFi Offering Interest to Platform Clients

BlockFi clients will as from now start earning interest on any amount of Gemini Dollar( GUSD), Ether( ETH) and Bitcoin (BTC).

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience.

Crypto Lending Company, BlockFi Offering Interest to Platform Clients

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