Institutional

BlockFi Introduces Institutional Services

Published, 17 October, 2019

BlockFi is formally introducing BlockFi Institutional Services, designed to give market-makers, funds, exchanges, and family offices access to enterprise-grade financing solutions for digital assets. The company was recently selected as an Innovator by the FIA and subsequently has been shortlisted for the finals presentation at the FIA Expo in Chicago, October 29th – 31st.

BlockFi Institutional Services provides bespoke financing solutions that allow clients access to a variety of cryptocurrencies for executing trading strategies and hedging their positions, amongst other opportunities. BlockFi’s client-centric approach has successfully met borrowing needs in Bitcoin, Ether, Litecoin, USD and Stablecoins (GUSD, USDC, or PAX).

“Our priority in the institutional space is to build a secure, best-in-breed platform for institutions to work with BlockFi in a way that lets us pass along economic benefits to our highly valued BlockFi users. We want to be there to help market-makers and funds enter and expand their crypto businesses, which will benefit the entire crypto ecosystem as a whole. Institutional clients can expect to benefit from the same client dedication and obsession we show for our retail clients.” — Zac Prince, CEO and Founder of BlockFi.

Demand for these solutions has developed over the past year, corresponding with the start of the rebound in digital asset valuations. BlockFi is typically able to provide best terms to clients thanks to its popular core business in the BlockFi Interest Account (BIA) and crypto-backed USD loans.

A Leader in the Space

BlockFi Institutional Services is one of the largest providers in the space, with a client roster that includes the largest and most credit-worthy market-makers and funds in the U.S. and Asia. Among its accomplishments, BlockFi Institutional Services helped pioneer using the ISDA/CSA template to swap Bitcoin and Ether for U.S. dollars.

The BlockFi Institutional Services roadmap is focused on continuing to roll out products and services that make it convenient, compliant, and secure for institutions to enter the digital asset financing space. This will include daily position and trade activity reporting, communications security, and integrations with service providers such as administrators, custodians, and auditors.

About BlockFi Institutional Services

Rene van Kesteren leads the Institutional Services team. Rene joined BlockFi as an advisor in 2017 before taking on the role of Chief Risk Officer in 2018. He has over twenty years of experience working with institutional clients and developing solutions across lending, derivatives, market-making, and private wealth management.

To best accommodate clients, BlockFi has hired Jessica Raybeck as Head of Institutional Client Relationship Management. Jessica joins BlockFi from Nomura, where she worked closely with institutions across all of their needs in her role as part of the Senior Relationship Management team. “We are excited to welcome Jessica Raybeck to the team to lead our Institutional Client Relationship Management effort. Jessica brings a wealth of experience and knowledge that will help institutional clients to cross the bridge into financing digital assets,” said Rene van Kesteren.

Jessica Raybeck is “excited to develop the roadmap for client service and relationship management in the digital asset space. There are many best-practices from the traditional finance world that need to be adopted by institutions and services in the cryptocurrency space. At the same time, as a flexible, young company, we have the opportunity to improve what has always existed and mold an institutional client experience for the digital native age. We feel privileged to help institutional clients enter the space and help shape it for years to come.”

Further building out the team, Yev Feldman joined from Bank of America Merrill Lynch where he worked in Equity Derivatives Structuring & Sales since 2011. In addition to Bank of America Merrill Lynch and Nomura, BlockFi’s Institutional Services team includes individuals with experience at Morgan Stanley and the Federal Reserve, with experience in traditional prime brokerage, repo markets, swaps, and securities lending.

– The BlockFi Team

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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 February 3rd, 2021

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

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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.