BlockFi adds Gemini Dollar stablecoin support to platform; offers up to 6.2% APY

New York-based cryptocurrency lending firm BlockFi has added Gemini Dollar stablecoin support to the platform, offering non-U.S. based clients an interest rate up to 6.2%, the company announced in a blog post.

“Adding support for GUSD is an exciting step for BlockFi that strengthens both our platform and the overall crypto finance ecosystem,” said BlockFi CEO Zac Prince. “Greater accessibility to financial services is a key promise of the industry. We currently have customers from more than 50 countries who can now access low-cost debt or earn interest using a market-leading digital dollar.”

The stablecoin is available to clients based outside the U.S.; they can earn up to 6.2% APY with BlockFi Interest Accounts. According to BlockFi, the platform gives non-U.S. residents a chance to access dollar-denominated debt markets which are usually available only to multinational corporations and governments.

Moreover, BlockFi has also made GUSD available as a USD loan funding option and as collateral.