BlockFi who are a non-bank lender of digital currencies just announced an institutional platform.
BlockFi Institutional Services is looking “to give market-makers, funds, exchanges, and family offices access to enterprise-grade financing solutions for digital assets,” according to the company.
“We have been active in the market for over a year,” BlockFi founder and CEO Zac Prince told Bitcoin Magazine. “As the team and business grew, it made sense to formally announce and establish the group within BlockFi.”
The plan was inspired by BlockFi’s own growth and founder and CEO Zac Prince said:
“We have a great relationship with our institutional partners, and having a team with a background in traditional finance has helped to ensure there’s a really seamless understanding of the needs in the space and how we can best accommodate [them],” said Prince. “Our Institutional Services team operates with the goal of helping these larger, traditional financial institutions leverage digital currencies in the most flexible and profitable capacity. Digital currencies provide so many benefits at scale, and making sure we’re making them as practical as traditional financial assets is critical in helping both consumers and financial institutions adopt them.”
If the lending market grows it shows a shift from more traditional financial companies to cryptocurrencies. The more adoption the bigger the popularity.