New update from BlockFi asset management company. In a message on May 29th, the company announced that it will support Gemini (GUSD), – company Twitter.
Use of updated GUSD deposits
Deposits in GUSD on the BlockFi platform will generate an annual income of 6.2%. But, in addition, the company will also offer GUSD as a financing option in US dollars and as collateral from institutional borrowers of cryptocurrency.
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Commenting on this decision, Zac Prince CEO said: "The point of adding this functionality is that you can see how crypto-companies, such as BlockFi, compete with traditional banks for financial services, using the advantages of assets such as Bitcoin, for growth in dollars, the blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details financial system."
The BlockFi company has announced a new update that will add Gemini support to the platform. At first, accounts for US customers will be unavailable due to regulatory uncertainty with respect to stable coins. However, the firm expects to add such support later this year, since they are currently working with their legal advisor on this issue.
Editor: Yuliya Soroka