BlockFi continually sets rates based on market dynamics for lending and borrowing. Our goal is to both practice sound risk management
and maximize earning opportunities for our BIA clients.
Rates for all stablecoins are increasing. BlockFi will make the following adjustments starting November 1, 2021 to all stablecoins, including Gemini Dollar (GUSD), USD Coin (USDC), Paxos Standard (PAX), Multi-Collateral Dai (DAI), Binance USD (BUSD), and Tether (USDT)* holdings in the BIA.
Please note that rates for all other cryptoassets, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Chainlink (LINK), PAX Gold (PAXG), Basic Attention Token (BAT), and Uniswap (UNI), will not be changing in November--only stablecoin rates will be updated.
Note: Rates currently displayed on the BlockFi rates page are current as of the date of this blog entry and will update on November 1, 2021.
BlockFi sets rates for the BlockFi Interest Account (BIA) by balancing prudent risk management principles amid shifting market conditions, with the goal of maximizing the returns we can deliver to our BIA clients. Rates on assets held in BIA are primarily driven by demand by institutional investors for borrowing these assets.
These adjustments are part of BlockFi’s ongoing mission to continue delivering high-quality, long-term service for our clients while expanding our innovative product offering in a competitive and scalable way. Throughout our history, we have maintained competitive crypto interest yields even as crypto prices have fluctuated dramatically. As our track record shows, rates may rise or fall, but BlockFi always remains committed
to supporting our clients’ financial goals.
If you have any additional questions about our rates, products, or services, please submit a support ticket here
and we’ll be happy to help.
*USDT is only available to non-US retail clients.
**APYs reflect effective yield based on monthly compounding. Actual yield will vary based on account activity and compliance with BlockFi’s terms and conditions. Rates are largely dictated by market conditions, which are a key factor in a company’s ability to provide its clients yield on their crypto assets. For more information, please see BlockFi's Terms of Service.
Disclaimer: Nothing contained in this announcement should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction. The information provided in this announcement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. This announcement is not directed to any person in any jurisdiction where the publication or availability of the announcement is prohibited, by reason of that person’s nationality, residence or otherwise.
Neither BlockFi nor any of its affiliates or representatives provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
Digital currency is not legal tender, is not backed by the government, and crypto interest accounts are not subject to FDIC or SIPC protections. For more information, please see BlockFi’s Terms of Service.