BlockFi, a popular crypto lending startup, has just announced it has added support for the stablecoin USDC and Litecoin, according to a press release shared with iHodl.
According to the company, from now on, users of the service can receive loans as well as earn interests with these two new assets. Specifically, USDC has an initial interest rate of 8.6%, while in the case of Litecoin it is 3.8%.
These 2 assets have also been added to BlockFi Trading, the company's trading service. The platform, which was launched last month, allows users to trade Bitcoin, Ethereum, Gemini Dollar and now USDC and Litecoin.
Crypto lending services like BlockFi's have gained a lot of popularity recently for several reasons. On the one hand, they offer their users the possibility to receive loans with very low interest rates, while lenders can make money by lending their cryptos.
BlockFi has experienced significant growth since the company was founded in 2017. Its valuation doubled in just two months, while BlockFi founder Zac Prince said last month the platform is registering a daily growth of 1-2%.