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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