BlockFi, a cryptocurrency lender, has announced a new service BlockFi Prime focused on institutional investors. With the new service, hedge funds, market makers, family offices can buy, sell and borrow cryptocurrencies. David Olsson, Vice President and Global Head of Institutional Distribution at BlockFi, says the company will further respond to the evolution of digital assets and institutional investors "adjust their trading strategies."
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"Just in the last year, we have added lending, trade execution, private client services and new products in order to help our clients meet their investment goals, and BlockFi Prime gathers all of those resources in one tool," Olsson added.
The service also allows big players to manage their assets more deeply as clients could see all the transactions they have made, open loans, margin balances, term sheets, and margin call percentages. The launch of BlockFi's new service comes after the Information has learned that the company is in the final stages of fundraising at a valuation of $5 billion.
According to persons familiar with the matter, the company plans to raise funds from big investors, including Third Point Management and Hedosophia.
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