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A Letter from Our Founders: Reflecting on 2019 and what to expect in 2020

Published 1 January, 2020

    Dear BlockFi Clients,

    As 2019 comes to a close, we wanted to thank you for supporting our platform. We build for you, and your continued feedback pushes us to be the leading financial provider for crypto investors. This has been a breakout year for BlockFi. We launched two new products and rapidly scaled our team, consistently working hard to add value to the crypto ecosystem.

    At the start of 2019, we offered one product – USD loans secured by crypto. While this product has played a pivotal role in allowing crypto investors a means to access capital while not giving up their investment position, we’ve expanded our value proposition even further.

    This year we launched two new products – our signature BlockFi Interest Account (BIA), and most recently, BlockFi Trading. With a BIA you can put your crypto to work and earn the highest interest rates in the industry paid out monthly in the currency of your choosing. It’s a way to earn passive income and easily diversify your crypto portfolio without having to purchase new crypto. With BlockFi Trading, you can buy and sell crypto pairs with no fees. We are now the only platform to allow you to actively manage your portfolio with these three products in one place.

    As we move into 2020, BlockFi’s vision is to build upon our current suite of financial products in a way that makes wealth management simple and accessible. The first order of business in January will be expanding our services. In the first few weeks, we will be adding support for USD Coin (USDC) and Litecoin (LTC) with some of the most competitive interest rates in the market. In the first half of next year, our focus will be on ease of access. We will be launching a mobile app and adding fiat on and off ramps.

    Our goal is to further expand the use of crypto on a global scale. As such, in 2020, we will be working on developing the newest BlockFi product, the BTC rewards credit card. You’ll be able to spend money on your BTC rewards credit card like you normally do, except instead of earning airline miles or cash-back, you’ll be able to earn an industry-leading, BTC cash-back rate on every transaction that you make with the card. We see the credit card as a way to add value to crypto OGs as well as a novel way to introduce crypto to non-owners in an easy, familiar way.

    This year has been an amazing year of building and growth that wouldn’t be possible without you, our clients. As we continue to bridge the gap between traditional financial products and crypto, we wanted to take a moment to fill you in on how far we’ve come and what to expect next. We also wanted to thank you for choosing to work with us. Without your support, none of what we’ve been able to build would be possible.

    Thank you for choosing BlockFi, this is just the beginning.

    Sincerely,
    Zac Prince & Flori Marquez

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    All BIA balances are deposited into an account with one of our licensed institutional custodians.
    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.
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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 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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