Wealth management services for crypto investors
According to its LinkedIn page, BlockFi is a blockchain-based platform that provides wealth management products crypto investors need. BlockFi service clients from all over the world and in all U.S. states, with USD loans backed by crypto, interest-earning accounts, and trading services. According to Crunchbase, BlockFi is a secured non-bank lender platform that offers crypto-asset-backed USD loans to crypto-asset owners. With this offering, BlockFi helps bring additional liquidity to the blockchain asset sector and fulfill the needs of individuals and institutions who hold blockchain assets. BlockFi also offers a custodial solution where clients’ assets can be used to issue loans directly to their bank accounts.
Since its launch, BlockFi has raised a total of $158.7M in nine funding rounds. The latest one was finished on August 20, 2020. There are a total of 30 investors who invested in BlockFi, including but not limited to Avon Ventures, Castle Island Ventures, Michael Antonov, Winklevoss Capital, HashKey Capital, SCB 10x, Matthew Dellavedova, Valar Ventures, Purple Arch Ventures, Kenetic Capital, and more. According to PrivCo, BlockFi has a post-money valuation in the range of $100M to $500M as of August 21, 2020. The company itself also invested in other companies including Grayscale Bitcoin Trust on October 28, 2020. There are 11 core team members including its co-founder and SVP of Operations, Flori Marquez. Anthony Pompliano is one of its advisors according to Crunchbase.
According to its website, BlockFi offers various services, including but not limited to:
– Interest account with up to 8.6% APY without any hidden fees;
– Lending services where users can borrow and hold their crypto assets as collateral to access immediate capital for their needs;
– Trading account for traders who needs advanced tools and access to a wide range of cryptocurrencies;
– and more.