BlockFi now supports for USD Coin (USDC) and Litecoin (LTC) allowing investors to earn interest, trade and receive loans with both digital assets.
Both cryptocurrencies will now be supported in BlockFi’s BlockFi Interest Account (BIA), enabling crypto investors to earn monthly compounding interest.
The initial annual percentage yield (APY) for USDC is 8.6%
The initial annual percentage yield for Litecoin with the BIA is 3.8%.
“We’re excited to kick-off 2020 by adding USDC and LTC to our platform and providing seamless connectivity between earning, borrowing and trading,” said Zac Prince, BlockFi’s CEO and founder. “Stablecoins play an increasingly valuable role globally to help people move money using blockchain payment rails and store their wealth in U.S. dollars, which many normally wouldn’t have access to. This added support facilitates global access to major markets, with our product line now empowering those building an investment strategy around USDC with options for growth they’d be hard-pressed to find elsewhere.”