Peter Thiel and the Winklevoss Brothers Increased Investments in BlockFi Crypto Lending Platform

BlockFi, a company operating in the cryptocurrency lending market, announced that it has raised $30 million in investments induring the Series B funding round, led the round by PayPal co-founder Peter Thiel Valar Ventures.

Other investors were Morgan Creek Digital, Akuna Capital, Winklevoss Capital, Arrington XRP Capital and HashKey Capital.

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BlockFi will use the raised funds toexpansion of the existing platform with which users can open interest accounts in Bitcoin, Ethereum, Litecoin, USDC and Gemini Dollar and receive loans in US dollars on their security.

Recall that in August 2019, BlockFi attracted$ 18.3 million in Series A. Valar Ventures and Winklevoss Capital then invested for the first time in a New York-based company. Earlier, BlockFi received $ 60 million, including from Coinbase Ventures, as well as $ 52.5 million from crypto-bank Mike Novogratz Galaxy Digital.

Thus, the total investment in the company has already exceeded $ 150 million.

BlockFi began its work in the BlockFi market in March 2019.years, and, as stated in the message, at present, under her management are assets of retail, corporate and institutional clients worth $ 650 million.

Until the end of the first quarter of 2020, the company intends to launch a mobile application and add wire transfers through it.

In December 2019, BlockFi also launchedcryptocurrency trading platform. During this year, it should receive support for 10 new assets from among the twenty largest cryptocurrencies by capitalization and stablecoins pegged to the US dollar.