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BlockFi launches institutional services arm to provide crypto-financing solutions

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BlockFi has announced the launch of its institutional services arm, BlockFi Institutional Services. The goal of this arm is to provide clients access to digital asset financing solutions, as institutions begin to integrate their businesses with digital currencies.

It will also allow clients to access various cryptocurrencies for the execution of trading strategies and hedging positions. According to BlockFi, activity on the institutional side of the platform has been growing rapidly alongside its retail business over the last 6 months. Zac Prince, CEO and Founder of BlockFi, said,

“Our goal is to give cryptocurrency holders the same level of flexibility and leverage with their digital currency assets that they would have with their traditional financial assets. Financial institutions are the natural next step as they move huge amounts of capital every day. We’re already seeing these institutions becoming more comfortable with digital currencies, and our products will further incentivize them to do so.”

Prince also said that as traditional financial ecosystems warm up to digital currencies, the more seamless the transition to digital assets will be for consumers. As reported last month, BlockFi had also announced that its interest account holders need no longer hold a minimum balance. Though no specific timeline has been provided, its roadmap for the future shows more focus toward rolling out products targeting institutions to aid it in entering the digital asset financing space.

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Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.
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