Subject: CXP
BlockFi Now Lending Worldwide
NEW YORK, Oct. 30, 2018 /PRNewswire/ -- BlockFi, the leading crypto-to-USD lender, is now servicing customers worldwide. This expansion builds on top of their market-leading U.S. coverage with service in over 45 states. BlockFi loans start at interest rates as low as 8 percent and can be funded in both fiat and stablecoins.
"The international market for borrowing USD is currently $11 trillion and has historically only been available to governments and corporations," said BlockFi CEO and Co-Founder Zac Prince. "We've seen overwhelming demand for our services outside the U.S. and are excited to be leveraging cryptoassets to make USD debt available worldwide at dramatically cheaper rates, especially in emerging markets."
The company has expanded its customer service team and now supports customers in Spanish and Mandarin. In the third quarter of 2018, roughly 50 percent of all BlockFi website traffic came from international users and over one-third of applications were from non-US residents. The company's founding goal is to provide incremental liquidity across the crypto ecosystem globally and this expansion is a major step towards that end.
BlockFi's international expansion will begin with business customers, who will have the option of 3, 6, 9, or 12-month loan maturity durations. International customers will initially support Bitcoin (BTC) and will expand in the future. These services are now available for businesses worldwide in accordance with U.S. international business regulations.
"I've spoken to business owners across the world who have expressed an immediate need for our product. In many countries, investing into crypto is much easier than accessing liquidity," explained BlockFi Co-Founder and VP of Operations, Flori Marquez, "We're excited to give businesses across the globe access to growth capital and portfolio diversification."
About BlockFi
BlockFi offers the ability to leverage cryptocurrency to obtain USD loans. The company operates in over 45 U.S. states and is backed by leading investors Galaxy Digital Ventures LLC, ConsenSys Ventures, and SoFi. BlockFi was founded by Zac Prince and Flori Marquez in 2017 and started lending in January 2018. Learn more about their company and team at BlockFi.com.
Contact:
Brad Michelson, Director of Growth & Customer Acquisition
BlockFi Lending LLC
646-779-9688
[email protected]
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SOURCE BlockFi Lending LLC
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