BlockFi to Raise $4M During Financial Round

Financial round was led by Akuna Capital, other inverstors are Galaxy Digital Ventures, Morgan Creek Digital, Susquehanna Government Product and Fidelity
13 December 2018   461

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.
 

Toby Allen

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.

South Koreans to Invest in Crypto Actively

In addition to the investment amounts, the share of those interested in investing in digital assets also increased
22 April 2019   81

The average amount of investments in cryptocurrency from South Korean invesetprs is $ 6,100, which is 64% more than last year, Cointelegraph reports.

According to a survey conducted by the Korean Fund for the Protection of Portfolio Investors, in addition to the investment amounts, the percentage of those interested in investing in digital assets also increased. Thus, 7.4% of the 2500 respondents have already acquired cryptocurrency (last year there were 6.4% of those). It is noteworthy that this figure has increased, despite several major break-ins of the South Korean crypto exchange, as well as tougher regulation of the industry.

Analysts connect the market with a recent bitcoin price jump and hope for a new bull rally.

Recall recently it became known that 94% of trust capital funds invest in cryptocurrency.