BlockFi supports Litecoin and GUSD for crypto-backed loans

Wednesday 17 October 2018 13:22 CET | News

BlockFi, the crypto-to-USD lender, has announced its support of Litecoin (LTC) and Gemini`s GUSD stablecoin towards USD loans.

By supporting GUSD as a loan funding option, BlockFi is enabled to fund loans 24/7, rather than just during US banking hours. BlockFi plans to continue the expansion of their lending products by supporting a number of other major cryptocurrencies. The company considers this a major step toward providing reliable liquidity in global markets.

In July 2018, BlockFi raised USD 52.5 million from Galaxy Digital Ventures, a digital currency and blockchain technology investment firm, which marked the industrys first institutional investment in cryptoasset-backed loans.

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Keywords: BlockFi, Litecoin, GUSD, cryptocurrency, loan funding, digital currency
Countries: World

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