BlockFi, a crypto lending startup, has just introduced the BlockFi Interest Account (BIA), a new type of deposit account that supports Bitcoin and Ethereum.
According to the BlockFi official website, this deposit account offers customers an annual interest rate of 6% and is paid in crypto. In addition, the total yield of the deposit reaches 6.2% after adding the monthly payments.
BlockFi customers can open Bitcoin and Ethereum accounts, and they can withdraw funds at any time.
The funds are custodied at the Gemini Trust Company LLC, owned by the Winklevoss twins. The representatives of the company said that users from different countries will be able to access the service.
The beta version of this new service was released at the beginning of the year and the company has already attracted $10 million from retail and institutional investors.
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