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BlockFi Monthly Update – January 30th, 2020

Published, 30 January, 2020

January has been a great start to 2020. We started the year by adding support for USDC and Litecoin, receiving Money Transmitter Licenses (MTLs) in Alabama and New Hampshire, and more.

To provide further accessibility to our clients, we’ve decided to extend our one free withdrawal per month policy. Clients will now receive one free stablecoin withdrawal in addition to one free crypto withdrawal per month. This is in line with our vision to bring our clients the best prices in the market.

Clients will be receiving their BlockFi Interest Account (BIA) interest payment on the first business day of this coming month (February 3, 2020).

Litecoin and USDC Support Added

We’re happy to announce support for USD Coin (USDC) and Litecoin (LTC) across our product portfolio, allowing our global user base of individual and institutional investors to trade and earn interest at industry-leading rates as high as 8.6% APY. Additionally, we’ve partnered with the Litecoin Foundation to ensure that the most value is being delivered to our clients using Litecoin. You can learn more and start trading here.

Alabama and New Hampshire MTLs

This month we received Money Transmitter Licenses (MTLs) in Alabama and New Hampshire. Residents of Alabama and New Hampshire can now create BlockFi Interest Accounts and use Trading.

Rate Adjustments

Starting February 1st, 2020, we are implementing rate changes. The rate changes will impact clients of all sizes. Our rates remain the highest in the industry and we’re the only retail-focused interest earning platform that is U.S. domiciled and regulated, institutionally backed, and that does not have a utility token. You can read more about the adjustments here.

BlockFi Live Featuring Rene van Kesteren

Our CEO and Founder Zac Prince sat down with BlockFi’s Chief Risk Officer Rene van Kesteren to talk about .

If you’d like to be notified about future BlockFi Live broadcasts you can sign up here.

No Origination Fees on Loans

For a limited time, we’re offering with no origination fees for new and existing clients that originate a new loan of $5,000 or more. This means you can get cash without having to sell your crypto. Until maturity, clients are only responsible for monthly interest payments, nothing else. It’s simple, easy, and has never been more cost effective to get a USD loan with your crypto.

On top of no origination fees, we have lowered our already industry leading rates for a limited time to the following:

50% LTV – 9.75% APR

35% LTV – 7.9% APR

20% LTV – 4.5% APR

This offer ends 2/14/20 23:59:59 UTC. View full terms here.

CALCULATE MY LOAN

If you ever have any questions, our support team is always happy to help. Please visit our contact us page.

– 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 August 5th, 2022

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.