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May 29, 2019

BlockFi, a crypto lending startup, has announced the launch of Gemini Dollar (GUSD) stablecoin support throughout its platform. In March, BlockFi launched deposit accounts with bitcoin (BTC) and ethereum (ETH) support.

Zac Prince, the Head of BlockFi, says adding support for GUSD "is an exciting step for BlockFi that strengthens both our platform and the overall crypto finance ecosystem."

“Greater accessibility to financial services is a key promise of the industry. We currently have customers from more than 50 countries who can now access low-cost debt or earn interest using a market-leading digital dollar,” Prince added.

According to the official announcement, at launch, non-U.S. clients will be eligible to earn up to 6.2% APY, paid monthly with a minimum balance of $2,500 GUSD. Balances above $100,000 GUSD will reportedly earn a tiered rate of 1.5% APY. Additionally, withdrawals will be subject to a 30-day processing window.

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