The Litecoin Foundation has formally partnered with BlockFi, a financial services company powered by blockchain technology that provides wealth management products for cryptocurrency investors, in promoting the use of BlockFi’s suite of products aimed at empowering users with the ability to earn interest on and borrow against their Litecoin used within their platform.
The strategic partnership produces additional options and liquidity opportunities with a well- known and respected company within the cryptocurrency ecosystem. One of these options is the ability to receive a USD loan using Litecoin as collateral. Another is the chance to earn interest on Litecoin held in an account on the BlockFi platform. The current rate of interest as of the date of this announcement is 3.8%.
The partnership is a valuable and welcome addition to the strategy of diversification of Litecoin. Foundation Project Director, David Schwartz, had this to say about the recent partnership agreement:
“BlockFi has been and will continue to be a key component to the continued growth of the cryptocurrency ecosystem.
David also goes on to mention that “By partnering with BlockFi, the Litecoin Foundation recognizes their positive contributions and the suite of products they provide customers. BlockFi provides our community, one of the most active in crypto, with even more quality choices of where to place their digital assets.”
BlockFi’s CEO and Founder, Zac Prince also sees the addition of Litecoin as a win-win for both sides.
“We’re excited to support Litecoin across BlockFi’s platform and welcome the Litecoin community to use our unique suite of products across earning interest, trading and collateralized loans – at the best rates in the market from a trusted service provider.”
BlockFi is a crypto-financial services company maturing the digital asset ecosystem by building financial products traditionally reserved for currencies like the USD or the Euro for holders of cryptocurrencies. The company services customers worldwide with interest-earning accounts, low-cost USD loans secured with crypto and fee-free trading. BlockFi is backed by leading institutional investors and operates with a focus on compliance with U.S. laws and regulations.
Learn more at BlockFi.com.