BlockFi is excited to launch its own crypto trading platform, BlockFi Trading, allowing its global user base of individual and institutional investors in cryptocurrencies to better manage their crypto-assets and optimize their asset allocation.
BlockFi Trading will initially allow holders of cryptocurrencies to seamlessly trade between the crypto of their choosing within the BlockFi platform, subject to geographic availability. The experience of buying and selling is fast and fee free, with trades executed immediately based on current market prices. Alongside the trading experience, BlockFi clients can instantly interact with other products on BlockFi’s platform including the BlockFi Interest Account (BIA) and loan product. BlockFi pays interest rates up to 8.6% for balances held in BIA and an ability to borrow via loans at rates as low as 4.5%.
“To date, we have focused on providing products to existing crypto investors that are readily available to investors in other asset classes. With the launch of trading, we are taking a big step in the direction of enabling net new investors to come into the ecosystem,” said Zac Prince, CEO and Founder of BlockFi. “Growth of the crypto market overall benefits the entire industry and we’re excited to shift our focus in that direction, in addition to adding products and features that expand the value proposition for our existing clients.”
As part of the preparation for the trading launch, BlockFi completed MSB registration with FinCen and has expanded their state licensing strategy to include money transmitter licenses in addition to its existing state lending licenses.
The trading product is available to BlockFi clients in eligible regions, to learn more visit blockfi.com/trading
– 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__.