BlockFi Rolled Out Facilitating Features For Litecoin And USD Coin

By Robin Wong | January 10, 2020

The digital assets management firm Blockfi has reportedly rolled out facilitating features for 2 new digital coins, in its list of currently supported cryptocurrencies

Specifically, on January 8, the company has announced its facilitating features for 2 major altcoins – Litecoin (LTC) and USD Coin (USDC) – the US dollar-pegged stablecoin designed by crypto exchange heavyweight Coinbase. 

The freshly-rolled out support will reportedly enable BlockFi clients to conduct transactional activities, take loans and interests with the 2 altcoins above. 

A certain compounding interest will be awarded to the clients on a monthly basis, via their BlockFi Interest Account (BIA). 

The annual percentage yield (APY) of USDC clocked in at 8.6%, and the figure for the same value of Litecoin stands at 3.8%.

The new BlockFi trading platform will also be facilitating the 2 coins, together with the existing crypto coins, including Bitcoin (BTC), Ether (ETH) and the Gemini Dollar (GUSD). 

The crypto lending sector has experienced a boom recently, due to a few underlying factors, including low interest rates, the rise in numbers of borrowers and investors – people that value the convenience in receiving digital assets instantly, along with a simple process for anyone disqualified by banks to borrow money, but can still get ahold of crypto easily.

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