New York City based cryptocurrency lender raised $18.3m in Series A funding led by Valar Ventures.
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BlockFi raises $18.3 million
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.
