Blockfi is an American company based in New York that is looking to kick start a new crypto finance movement. Backed by Gemini, BlockFi will be offering up to 6.2% interest on your deposits of Bitcoin (BTC) and Ethereum (ETH). The interest paid will be in either Bitcoin (BTC) or Ethereum (ETH), NOT IN FIAT! To many this might seem bizarre, however, with the growing acceptance of crypto currencies and for those who are willing to BUIDL, it a an interesting option!!
Forbes, has reported that BlockFi has already raised approximately $58 million last year. Additionally, in January 2019, BlockFi had received $10 million from retail, corporate and institutional investors. The CEO Zac Prince stated in an interview;
“It has though been pushed on by institutional interest over the last year or so.”BlockFi CEO, Zac Price