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BlockFi Partners with Poolin to Expand Services for Crypto Miners
Published, 3 June, 2020
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Following the May 2020 halving event, BlockFi has partnered with Poolin, one of the world’s largest cryptocurrency mining pools, to deliver key financial services to the global mining community.
Poolin, which is partnering through its Singapore subsidiary BlockIn Wallet, mined the most bitcoins in Q4 2019 and has consistently ranked in the top three global mining pools since inception. The company serves more than 5,000 mining clients, primarily in Asia.
With support from BlockFi, Poolin will expand its offering of financial services to miners, starting with bitcoin-collateralized loans. “Miners have an increasing need to access financing, and as part of that they need assurance that their collateral is safe and secure,” said Poolin CEO Kevin Pan.
BlockFi will work on customizing its products for the Poolin mining community, helping ensure best-in-class transparency and risk management for collateral. BlockFi is one of the leading lenders in the crypto space, with institutional backing from investors such as Valar Ventures and Susquehanna.
The partnership developed after BlockFi CEO Zac Prince met Kevin Pan on an episode of the CryptoTonight podcast, which aims to bring together the Asian and Western crypto communities.
“Right now, the majority of mining and mining development happens in Asia, while crypto financing is growing primarily in the U.S.,” said Zac. “This is a way to connect the two regions and our specific advantages. We see first-hand how much demand there is in Asia and are glad we can partner with a leading service provider such as Poolin.”
BlockFi continues to expand its services across Asia, bringing investors such as HashKey and Three Arrows Capital onboard in 2020. The company plans to open its new Singapore office later this year.
Last updated on February 3rd, 2021
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See blockfi.com/terms for more information.
2022 © All Rights Reserved.
BlockFi Lending LLC NMLS ID#1737520 | NMLS Consumer Access
BlockFi Trading LLC NMLS ID#1873137 | NMLS Consumer Access
Digital currency is not legal tender, is not backed by the government, and crypto accounts held with BlockFi are not subject to FDIC or SIPC protections. Digital currency values are not static and fluctuate due to market changes. Not all products and services are available in all geographic areas and are subject to applicable terms and conditions. Eligibility for particular products and services is subject to final determination by BlockFi. Rates for BlockFi products are subject to change.
BlockFi Rewards Credit Card: For more information, please see BlockFi’s Terms of Service. BlockFi is not a Bank. Cards are issued by Evolve Bank & Trust, Member FDIC, pursuant to a license from Visa® USA Inc. Rewards are not offered by Evolve Bank & Trust and are instead offered and managed by BlockFi.
BlockFi International Ltd. holds a Class F digital assets business license under the Digital Assets Business Act, 2018 (as amended) and is licensed by the Bermuda Monetary Authority to conduct the following digital assets business activities: (i) issuing, selling or redeeming virtual coins, tokens or any other form of digital assets (ii) operating as a digital asset exchange (iii) providing custodial wallet services (iv) operating as a digital asset derivative exchange provider and (v) operating as a digital assets services vendor.
See blockfi.com/terms for more information.
2022 © All Rights Reserved.