No minimal deposit to earn curiosity
On September 13, New York-based cryptocurrency credit score firm BlockFi, announced that from immediately its clients of the BlockFi Curiosity Account (BIA) will not be obliged to pay a minimal deposit quantity to earn curiosity on their Bitcoin, Ether or GUSD balances.
Zac Prince, founder and CEO of BlockFi acknowledged that he’s excited to see the expansion in platform exercise of crypto traders utilizing their asset administration merchandise, whereas the BlockFi group added that the choice to desert the minimal deposit is BIA will likely be accessible to a wider crypto viewers.
This yr, the American cryptocurrency lender has expanded its companies to India and is now planning to enter Latin America. Co-founder and Vice President of Operations, Flori Marquez stated:
“We expanded to new markets earlier this yr like India. By making BIA accessible to everybody, we need to deal with clients in Latin America, the place banking companies and credit score reporting are restricted. American-quality monetary merchandise are typically solely accessible to rich people in nations similar to Argentina and Costa Rica. The BlockFi platform makes use of blockchain rails to make asset administration merchandise accessible on a a lot wider scale. "
BlockFi secures $ 18.three million
Cointelegraph just lately reported that BlockFi had earned $ 18.three million in a financing spherical led by Valar Ventures, one among three enterprise funds co-founded by PayPal's co-founder, Peter Thiel. BlockFi was the primary firm to obtain institutional financing for US greenback crypto-based loans within the type of a $ 50 million mortgage facility from Galaxy Digital.
In April, Cointelegraph wrote that BlockFi managed greater than $ 53 million in crypto belongings.