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 BlockFi Interest Account (BIA) clients.
BlockFi is updating its rates and tiers starting on September 1, 2021 for Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Chainlink (LINK), PAX Gold (PAXG), Basic Attention Token (BAT), Uniswap (UNI), and Stablecoins (BUSD, DAI, GUSD, PAX, USDC and USDT*) holdings in the BlockFi Interest Account (BIA).
Tier 1 rates for all cryptocurrencies are increasing. By our estimates, the vast majority (nearly 75%) of clients will see an increase in their APY.
** Note: Currently displayed rates on the BlockFi rates page are current as of the date of this blog entry and will update on September 1, 2021.
BlockFi will make the following adjustments starting September 1, 2021:
PAX Gold Updates
Basic Attention Token Updates
The following rate table applies to all stablecoins including BUSD, DAI, GUSD, PAX, USDC, and USDT*.
Background on Rate Updates
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 crypto currencies 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 rewarding crypto interest yields even as cryptocurrency 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.
And 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.