BlockFi cryptocurrency lending service is launching BlockFi Prime, a trading platform for institutional investors and high net worth clients.
According to the company’s press release, the new service will include real-time quotes and next day settlement (T + 1). BlockFi Prime will be available to asset managers, family investment firms, high net worth individuals, hedge funds, private equity firms and corporate structures. BlockFi plans to add margin trading, automated margin lending and derivatives to the service in the coming months.
The launch of the new service follows the increased interest of institutional investors in the cryptocurrency markets that began last year. BlockFi offers Institutional Prime, similar to Coinbase, Genesis Trading, and other cryptocurrency firms.
“Our clients have asked us for this service because we have the largest balance sheet of the next generation of digital finance companies,” said David Olsson, VP and Institutional Leader at BlockFi. “From day one, we have built the business in such a way that we can serve organizations.”
Recently, the BlockFi cryptocurrency loan service raised $ 500 million in a funding round. Now the capitalization of BlockFi is estimated at $ 4.75 billion. In mid-May, an error in the BlockFi marketing campaign led to the fact that some users received gifts not in stablecoins GUSD, but in BTC. As a result, one of the users received over $ 28 million.
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