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BlockFi Adds Support for Litecoin (LTC) and USD Coin (USDC)
Published, 8 January, 2020
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BlockFi is thrilled to announce support for USD Coin (USDC) and Litecoin (LTC) across its product portfolio, allowing its global user base of individual and institutional investors to earn interest, trade and receive loans with a preeminent stablecoin and a highly popular digital asset.
Both cryptocurrencies will now be supported in BlockFi’s BlockFi Interest Account (BIA), enabling crypto investors to earn monthly compounding interest with market leading rates. The initial annual percentage yield (APY) for USDC is 8.6%—and as USDC is one of the most accessible stablecoins available today, BlockFi now provides crypto investors one of the industry’s highest interest-earning opportunities on their USDC holdings.
The initial annual percentage yield for Litecoin with the BIA is 3.8%. As one of the most widely used cryptocurrencies today, BIA support for Litecoin allows more crypto investors with diverse portfolios more options to optimize and grow their holdings without having to sell.
USDC and LTC will also be supported in the newly launched BlockFi Trading platform, enabling seamless trading between Bitcoin, Ether, Gemini Dollar (GUSD), USDC and Litecoin within the BlockFi ecosystem, subject to geographic availability. Previously, BlockFi already supported Litecoin as collateral to secure crypto-backed loans.
“We’re excited to kick-off 2020 by adding USDC and LTC to our platform and providing seamless connectivity between earning, borrowing and trading,” said Zac Prince, BlockFi’s CEO and founder. “Stablecoins play an increasingly valuable role globally to help people move money using blockchain payment rails and store their wealth in U.S. dollars, which many normally wouldn’t have access to. This added support facilitates global access to major markets, with our product line now empowering those building an investment strategy around USDC with options for growth they’d be hard-pressed to find elsewhere.”
The culminating result of BlockFi supporting various digital assets across a myriad of its products and services is the emergence of the first end-to-end experience where crypto investors can seamlessly earn interest, trade fee-free and receive loans all in a single platform.
If you have any questions, our support team is always happy to help. Call us at +1 (646) 779-9688 or visit our contact us page.
– The BlockFi Team
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 9th, 2022
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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.
2022 © All Rights Reserved.
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.
2022 © All Rights Reserved.