BlockFi, which has become one of the important platforms of the crypto money sector recently, has opened the door to fiat money transfer with a new agreement.
BlockFi, which has signed an agreement with Silvergate Bank, will now enable its customers to purchase cryptocurrencies directly. Then, from these cryptocurrencies, BlockFi users will be able to earn interest.
BlockFi founder Zac Prince said in a statement to The Block:
Currently, the only cryptocurrency that will be accepted in dollars on the platform will be Gemini USD (GUSD). We expect this to have an annual return of around 8.6 percent. ”
Prince stressed that currencies of different countries will also be accepted, but that money will be converted into dollars to earn interest from these currencies.
With this move, the way for new users to come to BlockFi will be opened. People who want to invest but have not yet received cryptocurrencies will now be able to earn interest.
BlockFi also announced that it has obtained a license to continue its operations in Florida.