BlockFi has announced today that it has brought on Three Arrows Capital as a strategic investor to the company.
Client Becomes an Investor
Three Arrows Capital, a leading fund manager focused on providing superior risk-adjusted returns, is now also an institutional client of BlockFi.
The investor joins the company through a secondary transaction.
Since its inception, the firm has demonstrated impressive growth in Asia and global markets.
“It’s quite validating to have one of our clients seek to come on board in a greater capacity,” said Zac Prince, CEO and co-founder, BlockFi. “Bringing on Su Zhu and the team at Three Arrows Capital aligns well with our focus on international expansion of our institutional services offering – which is one of our strategic initiatives for this year.”
BlockFi is pioneering new financial products for digital assets, offering clients strong returns.
Most recently, BlockFi has raised interest rates on the BlockFi Interest Account (BIA), empowering clients to earn up to 6% APY on Bitcoin, and 8.6% APY on stablecoins such as USDC and GUSD.
BlockFi Eyes Global Growth
As it bolsters the mainstream adoption of cryptocurrencies for retail and institutional clients worldwide, BlockFi is bringing on Three Arrows Capital to help the company better serve its global client base.
Su Zhu, co-founder and CEO of Three Arrows Capital spoke on the announcement:
“In being an institutional client of BlockFi, we quickly recognized that the company’s mission of helping to expand the cryptocurrency ecosystem aligned with our own philosophy for the space. We have had a great relationship with BlockFi and when presented an opportunity to become more involved on the investor level, the answer was evident. BlockFi has grown at an impressive rate and we are looking forward to helping propel the company forward in global markets.”
The New Jersey-based BlockFi continues to expand as a high-profile CeFi company, linking crypto holders with both retail and institutional borrowers.
The company recently announced support for cash transfers on its platform via a tie-up with Silvergate.
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