During the round of financing led by Akuna Capital, the cryptocurrency company BlockFi raised $ 4 million. Other investors include Galaxy Digital Ventures, Morgan Creek Digital, Susquehanna Government Product and Fidelity Investments division of Devonshire Investors.
The company has attracted investment in exchange for convertible bonds. BlockFi, which operates in the lending market, intends to use funds to expand the team as part of the launch of new services.
In particular, the company plans to open cryptocurrency savings accounts for clients with the possibility of obtaining income, as well as to issue credit cards provided by digital assets. The first BlockFi product promises to launch in the first months of 2019.
The BlockFi team is providing a critical piece of financial services infrastructure in the crypto space. Companies like BlockFi are representative of the high-quality development that will facilitate continued consumer adoption.
Head of Digital Assets, Akuna Capital
At the moment, the company offers loans to corporate and private clients, accepting their cryptocurrency savings as a security. In July, BlockFi raised $ 52.5 million from cryptobank Mike Novogratz.