Crypto Lending Firm BlockFi Secures $30M to Facilitate Mainstream Adoption

Cryptocurrency-lending startup BlockFi has secured $30 million from an array of investors, including Morgan Creek Digital, Winklevoss Capital and Arrington XRP Capital.

The Series B funding round was led by United States-based capital fund Valar Ventures, with participation of Akuna Capital, CMT Digital, Avon Ventures, Castle Island Ventures, Purple Arch Ventures, Kenetic Capital, and Hong Kong-based HashKey Capital, among others, according to a Feb. 13 announcement shared with Cointelegraph.

With a view to launch products for mainstream

With the raised funds, BlockFi — whose users can earn compound interest on and trade loans backed by assets — now has more than $650 million in assets on the platform. The company is planning to allocate the secured funds to the enhancement of its staff and expansion of its offerings.

BlockFi hinted in the release that it will roll out products accessible to a mainstream audience, starting with a mobile app in the coming months. “We’ve…