BlockFi Monthly Update – January 30th, 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 how we approach providing world class service in the most secure way possible

    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 crypto-backed USD loans 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. Call us at +1 (646) 779-9688 or email us at support@blockfi.com.

    – The BlockFi Team

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    All BIA balances are stored in a custodial account with Gemini.
    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. For more information, please see BlockFi’s Terms of Service.
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    Disclaimer: Rates for BlockFi products are subject to change. Digital currency is not legal tender, is not backed by the government, and BIA accounts are riot subject to FDIC or SIPC protections. Security is our top priority. Please see our Vulnerability Disclosure Form and Bug Bounty Program.
    BlockFi Lending LLC NMLS ID#1737520 | NMLS Consumer Access
    BlockFi Trading LLC NMLS ID#1873137 | NMLS Consumer Access
    Disclaimer: 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. Security is our top priority. Please see our Vulnerability Disclosure Form and Bug Bounty Program.
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