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BlockFi Launches BlockFi Prime for Institutional Clients

BlockFi, a financial services company dedicated to building a bridge between cryptocurrencies and traditional financial and wealth management products, today announced the launch of BlockFi Prime, an integrated trading platform for digital assets. The offering provides greater transparency, a full suite of trading capabilities and an improved user experience for institutional and other sophisticated investors such as asset managers, family offices, high-net worth individuals, hedge funds, private equity firms and corporate entities.

BlockFi Prime is the latest addition to a host of Prime Services offered to BlockFi’s institutional clients, which also includes digital asset borrowing and 24/7 client service via its OTC trading capabilities. The tool combines BlockFi’s tech capabilities with a trade flow across settlement, reporting and allocations that traditional fund managers are accustomed to. BlockFi Prime’s features include:

  • Real-time streaming quotes 
  • The ability to trade up to a settlement limit via a 24-hour settlement cycle 
  • Availability of trade and loan history with access to downloadable term sheets and outstanding balances 
  • Easy-to-use trading user interface, which features a built-in exchange calculator 
  • Flexible API that lets users fold BlockFi Prime capabilities into their own system for high-frequency or programmatic trades 
  • A flexible pricing model that allows an organization to select features which best fit its organization’s needs, including TWAPs and spot

In addition, BlockFi expects in the coming months to add tools to BlockFi Prime focused on margin trading, derivatives and automated margin lending.

“As cryptocurrency investment and adoption becomes even more a part of mainstream financial markets, institutional investors have demanded tools that enable them to pursue traditional investing strategies while navigating trading nuances specific to digital assets,” noted Zac Prince, CEO and co-founder of BlockFi. “BlockFi Prime is an exciting new tool that provides investors an unparalleled degree of control, insight, and convenience in managing their organization’s crypto assets.”

“Developing and launching BlockFi Prime is a natural next step for us as we continue to respond to the evolution of digital assets and institutional investors adjust their trading strategies,” added David Olsson, Vice President and Global Head of Institutional Distribution at BlockFi. “Just in the last year, we have added lending, trade execution, private client services and new products in order to help our clients meet their investment goals, and BlockFi Prime gathers all of those resources in one easy-to-use tool.”

About BlockFi
BlockFi is a new breed of financial services company. Founded in 2017 by Zac Prince and Flori Marquez, BlockFi is building a bridge between cryptocurrencies and traditional financial and wealth management products to advance the overall digital asset ecosystem for individual and institutional investors. BlockFi’s platform manages more than $15 billion in assets and has generated over $200 million in interest for clients. The company, headquartered in New Jersey with offices around the globe, continues to expand its presence in the United States and internationally.

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.

SOURCE: BlockFi