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BlockFi Adds Support for Litecoin (LTC) and USD Coin (USDC)

Posted by Mihai Cristian on January 08, 2020 - 9:01am Edited 1/8 at 9:03am

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.

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 join BlockFi .

Otto Knotzer Have a good week for you
January 26, 2021 at 3:56am
Bill Bateman the crypto markets see to grow 10 or 20 percent every week. Hard to keep track of it all.
January 25, 2021 at 10:06pm
July 22, 2020 at 5:07am
andrei68 Yarushin Good afternoon. Thank you. You.
July 22, 2020 at 4:48am
andrei68 Yarushin Thank you and good health
July 9, 2020 at 5:02am
February 17, 2020 at 4:01pm
Louis Harvey Sounds interesting, It appears that every industry will be trying to find ways to capitalize off of the crypto space.
February 17, 2020 at 12:13pm
Mihai Cristian Thank you for your support and comments
February 2, 2020 at 1:44am
Health and Safety STEFY Super excelent!
January 18, 2020 at 1:38pm
January 15, 2020 at 5:13am
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