COMING SOON: A New Way to Earn Passive Income with DeFi in 2025 LEARN MORE

Blockfi trading platform launched with fee-free trading

In this post:

The much-awaited Blockfi trading platform just went live. Blockfi primarily provides crypto-backed loans and interest-bearing accounts. Initially, three cryptocurrencies have been offered for trading. The firm now complies with the Financial Crimes Enforcement Network guidelines. Now, it can provide services, including money transmissions and cryptocurrency-backed loans.

Initially, only BTC, ETH, and GUSD (Gemini Dollar) will be offered to the traders. Their availability is also dependent on the user’s location. The firm announced that trade execution occurs on present market prices, and there’s no fee on the platform.

Blockfi trading platform will boost the company’s credibility

Blockfi investors include many big industry names featuring Fidelity, Sofi, Galaxy Digital, and many more. The announcement of the launch is going to be a positive development in the crypto industry. In an era where crypto exchanges and trading platforms are shutting down operations, it is great to see a new platform starting operations. Both individual and institutional traders are sure to reap the benefit from its services.

Blockfi Chief Operating Officer Zac Prince said that his team is dedicated to offering affordable and efficient crypto products to its customers. Blockfi trading platform represents his firm’s commitment towards providing more solutions to its customers through an ecosystem of diverse products portfolio.

See also  BlackRock meets with SEC Crypto Task Force to discuss staking and options on crypto ETFs

Blockfi trading platform expands the product portfolio

Besides the three cryptocurrencies on offer, the firm will later add support for fiat trading as well. Moreover, Litecoin and USDC will also be added next year. To achieve this latest feat, Blockfi had to register a ‘Money Service Business’ under the ‘U.S. Financial Crimes Enforcement Network.

The most famous service of the company, however, is the Blockfi Interest Account (BIA). It offers around nine percent (8.6%) interest to the account holders on the account balance. The borrowing rate at just four and a half percent (4.5%) is also pretty low. Also, its crypto-backed loans are a hit among clients.

Image Source: Pixabay

Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

Share link:

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Editor's choice

Loading Editor's Choice articles...

- The Crypto newsletter that keeps you ahead -

Markets move fast.

We move faster.

Subscribe to Cryptopolitan Daily and get timely, sharp, and relevant crypto insights straight to your inbox.

Join now and
never miss a move.

Get in. Get the facts.
Get ahead.

Subscribe to CryptoPolitan