Blockchain to launch interest-bearing accounts with initial support for bitcoin

Quick Take

  • has announced its plan to roll out interest-bearing accounts to let users earn up to 4.5% annual interest on their bitcoin deposits
  • The unveiling comes two months after the company’s expansion into retail lending

Crypto wallet and services provider is set to roll out interest-bearing accounts, letting users earn yields on their bitcoin deposits.

Founded in 2011, is best known for its bitcoin blockchain explorer and cryptocurrency wallet services. According to information shared with The Block, 28% of all bitcoin transactions in 2020 took place in wallets. 

But the company has recently started branching out to other lines of business, launching an institutional lending desk in August 2019 and a retail lending desk in March 2020. On Wednesday, announced its plan to expand its product offerings further to include an interest-bearing account. is not the only firm offering yields on crypto deposits. BlockFi, for example, started providing interest-bearing accounts last August, marketing an up to 8.6% annual interest on crypto-assets such as BTC, ETH, LTC, and USDC. Celsius, Nexo, and have also released similar products. 


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy’s new service will only support bitcoin at the outset, offering up to 4.5% annual interest on users’ bitcoin deposits. But the team said that it is working on adding other assets like ETH and USDT in the future. The firm stressed that users in the United States, Canada, and Japan would not be able to access the new service at launch.

With regard to its recently launched retail lending business – which allows users to borrow USD-pegged stablecoin, USD Digital, against bitcoin held in their wallets – the company said that it will soon make it available to U.S. customers and enable support for new crypto assets.

Additionally, the company is adding USDT and ALGO to the list of assets supported by its wallet, which also includes BCH, ETH, and XLM.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Yilun joined The Block in November 2019. She has a policy background and extensive experience in reporting and writing. She has worked on stories ranging from business to politics.