Name Price24H (%)
Bitcoin (BTC)
$20,860.00
3.65%
Ethereum (ETH)
$1,220.73
7.69%
BNB (BNB)
$241.79
2.25%
Cardano (ADA)
$0.471121
3.27%
BlockFi has increased the interest rates of their interest a...
News

BlockFi has increased the interest rates of their interest accounts for BTC and ETH for non-US clients

BlockFi: Update to Non-US BlockFi Interest Account (BIA)* Rates

BIA* interest rates are increasing for BTC and ETH for non-US clients

Official press release below

On Thursday, September 1, 2022, we’re increasing certain tier amounts and interest rates for certain tiers for BTC and ETH in the BIAs* of non-US clients.
We continually set rates based on market dynamics for lending and borrowing. Our goal is to practice sound risk management and maintain earning opportunities for you with our BIA*.
Please note that all tiers and rates are unchanged for U.S. persons with BIAs*. We’re also able to offer compelling rates through BlockFi Private Client for clients globally. If this is something you’re interested in learning more about, please contact us.
All tiers and rates displayed on the BlockFi rates page are current. We’ll make the following adjustments starting Thursday, September 1, 2022:

Bitcoin (BTC) Updates [Non-US Clients]

BTC Sept 2022 rate and tier updates final

Ethereum (ETH) Updates [Non-US Clients]

ETH Sept 2022 rate and tier updates final

Background on Rate Updates

We set rates for the BIAs* by balancing prudent treasury and risk management principles amid shifting market conditions. Rates on cryptoassets held in BIA* are primarily driven by institutional demand for borrowing assets.
Our Global Head of Trading, Joe Hickey, recently sat down with The Block to discuss the current rate environment. Due to changes in the competitive landscape, institutional demand to borrow cryptoassets has outpaced supply in the past few months. We’re able to pass along the related increases in our lending revenues directly to retail clients in the form of higher interest rates


These adjustments are part of our ongoing mission to deliver high-quality, long-term service to you while expanding our innovative product offerings in a competitive and scalable way. Since the beginning, we’ve continued rewarding crypto interest yields even as cryptoasset prices have fluctuated. As our track record shows, rates may rise or fall, but BlockFi always remains committed to supporting your financial goals. You can see more details about how assets are managed on our platform here.
If you have any questions about our rates, products, or services, our world-class Client Support team is here to help. Contact us.
*The BIAs have not been registered under the Securities Act of 1933 and, unless otherwise exempt from those registration requirements, may not be offered or sold in the United States, to U.S. persons, for the account or benefit of a U.S. person or in any jurisdiction in which such offer would be prohibited.
**APYs reflect effective yield based on monthly compounding. Actual yield will vary based on account activity and compliance with BlockFi’s terms and conditions. Rates are largely dictated by market conditions, which are a key factor in BlockFi’s ability to provide our clients yield on their crypto assets. For more information, please see BlockFi’s Terms of Service.
Disclaimer: Nothing contained in this announcement should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction.  The information provided in this announcement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. This announcement is not directed to any person in any jurisdiction where the publication or availability of the announcement is prohibited, by reason of that person’s nationality, residence or otherwise.
Neither BlockFi nor any of its affiliates or representatives provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
Digital currency is not legal tender, is not backed by the government, and crypto interest accounts are not subject to FDIC or SIPC protections. 
BlockFi International Ltd. is licensed to conduct digital asset business by the Bermuda Monetary Authority.

Last updated on August 25th, 2022

Source: https://www.blockfi.com/interest-rates-update-september-2022

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