March 27, 2023

BlockFi crypto-leasing platform added support for Litecoin and stablecoin USDC

BlockFi lending platform users have the opportunity to make deposits in Litecoin cryptocurrency and stablecoin USDC for interest payments or loans in USD secured by these assets, CoinDesk writes.

The initial interest rate for USDC is 8.6%, for LTC - 3.8%.

Both assets were also added to the BlockFi trading platform, which was launched in December 2019 and still supported the trading of bitcoin, Ethereum and Gemini Dollar.

According to Zack Prince, CEO and founder of BlockFi,In 2020, the platform intends to add a total of 10 new assets from among the twenty largest cryptocurrencies by capitalization and stablecoins pegged to the US dollar.

In addition, in the first quarter of this yearIt is planned to launch a mobile application and a service for sending fiat transfers. In the second quarter, the platform will present an automated settlement and clearing center, and a credit card with the possibility of receiving rewards in bitcoins is scheduled for the second half of the year.

Which bank will issue the card, ZackPrince did not specify, it is also not yet known which organizations will serve the clearing and settlement center. BlockFi's list of banking partners currently includes Silicon Valley Bank, Oppenheimer & Co, Silvergate Bank, and Signature Bank.

Recall that in 2019 BlockFi conducted two rounds of financing Series A, in which it raised $ 60 million and $ 18.3 million.