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BlockFi vs. the Competition: What Sets Us Apart in the Crypto Market?

Published 9 November, 2020

    At BlockFi, we do things a little differently than other companies in the crypto industry, but people often wonder what makes us unique. From our compliance-ready approach to our industry-leading talent and impeccable investor backing, we’re paving a new path forward for finance. Let’s take a closer look at the many things that distinguish BlockFi.

    BlockFi is US-Based and Regulated

    BlockFi remains one of the few retail-focused interest-earning platforms that is also domiciled in the United States, regulated under US law, and that’s also institutionally backed and doesn’t have a utility token. That’s important–we play by the rules, to the benefit of our company and our clients.

    If you want to learn more about where and how we’re licensed, just check our Licenses & Disclosures.

    We’re Backed by the Biggest Names in the Industry

    With more than $100 million in equity funding, including a recent Series C funding round led by Morgan Creek that raised $50 million, and more than $2 billion in assets under management, BlockFi has a rock-solid foundation.

    We’ve secured support from some of the leading companies in the industry: Valar Ventures, Morgan Creek Capital, CMT Digital, Castle Island Ventures, Winklevoss Capital, SCB 10X, Avon Ventures, Purple Arch Ventures, Kenetic Capital, and HashKey to name just a few. They believe in the BlockFi mission, and that says a lot.

    Be sure to check out our full list of institutional investors.

    We’ve Got an Amazing Talent Pool

    BlockFi has a deep bench of skilled and experienced talent that’s been pulled from across traditional finance, technology, and startup culture. Since our founding in 2017, we’ve grown to more than 300 employees around the world, and continue to add to our global roster of highly accomplished staff.

    If you want to learn more about who works at BlockFi and what we bring to the table, check out the bios for our Leadership Team and our LinkedIn page for a full view of our talent pool.

    BlockFi Has Top-Tier Risk Management Processes

    We believe in building a scalable company with true staying power. That’s why we’ve never held an ICO, nor do we require tokens to maintain a certain interest rate. Our loan portfolio has had perfect performance with no losses for our clients from lending to date.

    When you send crypto to BlockFi, you’re sending it to one of our regulated custodians, like Gemini. From there, we may lend your crypto to one of our vetted institutional counterparties. These clients use the bitcoin they’re borrowing to execute trading strategies and hedge their positions. Rather than lending to just one institution, we lend to multiple counterparties to minimize our risks. BlockFi keeps a sizable amount of collateral to the side so that clients are able to easily withdraw funds.

    Want to hear more about our approach to risk management? Watch this interview with our Chief Risk Officer Rene van Kesteren.

    We’ve Got a Robust Security Strategy

    Security has and always will be our top priority. We’re continuing to evolve our controls and harden our security posture to meet the realities associated with sophisticated threat actors. To that end, our security program is expanding across multiple layers, with a focus on transparency about any security updates, proactive risk management, enlisting our entire workforce in the security process, and increasing our industry involvement to serve as a leader across the crypto space.

    BlockFi’s Chief Security Officer Adam Healy has outlined the future of security at our company, and the major security initiatives we’re using to keep our company and our clients safe.

    Clients, partners, and vendors should feel encouraged to contact us with any security questions or concerns at security@blockfi.com.

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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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