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BlockFi Adds Support for Paxos Standard (PAX)
Published, 20 March, 2020
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Today BlockFi is announcing that it supports Paxos Standard (PAX). PAX will be supported by BlockFi’s BlockFi Interest Account (BIA), allowing crypto investors to earn monthly compounding interest, with an initial annual percentage yield (APY) of 8.6%.
PAX is the third stablecoin that BlockFi has added support for (the platform also supports Gemini Dollar (GUSD) and USD Coin (USDC).
The release of support for PAX directly follows BlockFi’s recent announcement about the company’s operations during this period of increased market volatility and its decision to raise Bitcoin and Ether interest rates (effective April 1, 2020).
Regarding the addition of this latest stablecoin, Zac Prince, CEO and Founder of BlockFi notes, “We’re excited to support PAX on our platform and help expand stablecoin availability, with market leading yields, to BlockFi clients. As our respective platforms continue to grow, we expect to find more ways to collaborate.”
PAX will also be supported in the BlockFi Trading platform, providing clients with additional trading opportunities and another way to earn interest with BlockFi’s highly competitive and industry-leading interest rates. Clients can now trade between Bitcoin, Ether, GUSD, USDC, PAX, and Litecoin, subject to geographic availability.
If you have any questions, our support team is always happy to help. Call us at +1 (646) 779-9688 or visit our contact us page.
– The BlockFi Team
Rates for BlockFi products are subject to change. Digital currency is not legal tender, is not backed by the government, and BIA accounts are not subject to FDIC or SIPC protections. Crypto assets are deposited into an account with Gemini or BitGo, our primary custodians and licensed depository trusts. For more information, please see BlockFi’s Terms of Service__.
Last updated on August 5th, 2022
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As of February 14, 2022, the BlockFi Interest Account (BIA) is no longer available to new clients who are US persons or persons located in the US and existing US clients with BIA accounts are unable to transfer new assets to their BIAs. Learn More.
BlockFi Lending LLC NMLS ID#1737520 | NMLS Consumer Access
BlockFi Trading LLC NMLS ID#1873137 | NMLS Consumer Access
Digital currency is not legal tender, is not backed by the government, and crypto accounts held with BlockFi are not subject to FDIC or SIPC protections. Digital currency values are not static and fluctuate due to market changes. Not all products and services are available in all geographic areas and are subject to applicable terms and conditions. Eligibility for particular products and services is subject to final determination by BlockFi. Rates for BlockFi products are subject to change.
BlockFi Rewards Credit Card: For more information, please see BlockFi’s Terms of Service. BlockFi is not a Bank. Cards are issued by Evolve Bank & Trust, Member FDIC, pursuant to a license from Visa® USA Inc. Rewards are not offered by Evolve Bank & Trust and are instead offered and managed by BlockFi.
BlockFi International Ltd. holds a Class F digital assets business license under the Digital Assets Business Act, 2018 (as amended) and is licensed by the Bermuda Monetary Authority to conduct the following digital assets business activities: (i) issuing, selling or redeeming virtual coins, tokens or any other form of digital assets (ii) operating as a digital asset exchange (iii) providing custodial wallet services (iv) operating as a digital asset derivative exchange provider and (v) operating as a digital assets services vendor.
See blockfi.com/terms for more information.
2022 © All Rights Reserved.
BlockFi Lending LLC NMLS ID#1737520 | NMLS Consumer Access
BlockFi Trading LLC NMLS ID#1873137 | NMLS Consumer Access
Digital currency is not legal tender, is not backed by the government, and crypto accounts held with BlockFi are not subject to FDIC or SIPC protections. Digital currency values are not static and fluctuate due to market changes. Not all products and services are available in all geographic areas and are subject to applicable terms and conditions. Eligibility for particular products and services is subject to final determination by BlockFi. Rates for BlockFi products are subject to change.
BlockFi Rewards Credit Card: For more information, please see BlockFi’s Terms of Service. BlockFi is not a Bank. Cards are issued by Evolve Bank & Trust, Member FDIC, pursuant to a license from Visa® USA Inc. Rewards are not offered by Evolve Bank & Trust and are instead offered and managed by BlockFi.
BlockFi International Ltd. holds a Class F digital assets business license under the Digital Assets Business Act, 2018 (as amended) and is licensed by the Bermuda Monetary Authority to conduct the following digital assets business activities: (i) issuing, selling or redeeming virtual coins, tokens or any other form of digital assets (ii) operating as a digital asset exchange (iii) providing custodial wallet services (iv) operating as a digital asset derivative exchange provider and (v) operating as a digital assets services vendor.
See blockfi.com/terms for more information.
2022 © All Rights Reserved.