BlockFi raises USD 350 mln in funding round
The startup has plans to launch in the second quarter a Bitcoin Rewards Credit Card, which will give BlockFi clients the ability to earn Bitcoin cash back on every transaction. It plans to use the new capital to continue growing its product suite, expand into new markets, and for strategic acquisitions.
BlockFi is a financial services company for crypto market investors that offers a retail and institutional-facing suite of products. On the retail side of its platform, people can use its mobile app to earn a yield on their crypto holdings (6% on Bitcoin, 8.6% on stablecoins), buy and sell crypto and get loans secured by the value of their crypto portfolio.
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