According to the report, BlockFi was the first company to receive institutional funding for crypto-based loans in United States dollars, in the form of a $50 million lending facility from Galaxy Digital. The new capital will reportedly be used to expand the array of products on BlockFi’s existing platform that includes interest-earning accounts for Bitcoin (BTC) and crypto-backed USD loans.

https://cointelegraph.com/news/blockfi-raises-over-18m-in-a-round-led-by-paypal-co-founders-vc-firm