BlockFi Is Now Paying Interest on $53 Million of Crypto Deposits
BlockFi has gathered another $18 million of bitcoin and ether deposits since last month, bringing its total interest-earning accounts to $53 million.
BlockFi, the cryptocurrency lending service, is expanding into trading with an unusual, zero-fee model.
Minimum deposits have been dropped on BlockFi's Interest Bearing Accounts for bitcoin, ethereum and the gemini dollar.
The initial annual percentage yield will be 8.6 percent for USDC and 3.78 percent for litecoin.
Winklevoss Capital, Galaxy Digital, and ConsenSys funded the crypto lender's latest round.
BlockFi is almost halving the interest rate it offers on ether deposits from June 1, while the rate on larger bitcoin deposits will go up slightly.