BlockFi, the Crypto wealth Management and Lending Company launches new crypto accounts. These accounts will support Ethereum (ETH), and Bitcoin (BTC), and pay 6% monthly interest in crypto.
According to a blog post posted on the company’s site on March 4, assets of the client will be held under Gemini Trust Company custody. Gemini Trust Company custody manages the crypto exchange run by the Winklevoss Twins Gemini. It is regulated under the New York State Department of Financial Services.
Further, clients can withdraw funds from such accounts at anytime. Institutional borrowers will generate the yield from such accounts. Company also claims:
“BlockFi’s risk management system automatically initiates margin calls or liquidations to protect customers’ assets. It has had a perfect zero-loss record since its inception in 2017.
In July 2017, a BlockFi fundraising round was led by Galaxy Digital, a crypto-focused merchant bank.
