US-based Blockfi has expanded into India, offering a high rate on its interest-bearing account for two cryptocurrencies. News.Bitcoin.com talked to Blockfi and a local Indian crypto exchange offering a similar program to find out how the two products differ.
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Blockfi Launching in India
New Jersey-based crypto startup Blockfi announced Tuesday that it has expanded service to users in India. Its flagship Blockfi Interest Account (BIA) for BTC and ETH is now available in 65 countries.
“As of this month, over $53 million in client crypto is stored with Blockfi,” the company shared, adding that “We saw a huge amount of demand from India over the last month and we’re excited to welcome their crypto community to our platform.”
A Blockfi representative told news.Bitcoin.com Wednesday:
All of Blockfi’s products will be available to retail and institutions in India. Blockfi have already had clients from India sign up for our…