How did BlockFi receive a facility?

3 answers

• Nov 28, 2021 · 3 years ago
  BlockFi received a facility by partnering with a financial institution that provided them with the necessary capital to operate in the cryptocurrency industry. This partnership allowed BlockFi to access funds and resources that they could use to offer lending and borrowing services to their customers. By securing this facility, BlockFi was able to expand their operations and provide more comprehensive services to their users.
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• Nov 28, 2021 · 3 years ago
  To receive a facility, BlockFi went through a rigorous due diligence process with the financial institution. This involved providing detailed information about their business model, financials, and compliance procedures. The financial institution assessed the risks associated with BlockFi's operations and determined that they were comfortable providing the facility. This partnership not only benefited BlockFi by providing them with the necessary capital, but it also gave the financial institution exposure to the growing cryptocurrency industry.
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• Nov 28, 2021 · 3 years ago
  BlockFi received a facility by demonstrating their strong track record in the cryptocurrency industry. Their successful operations and ability to generate revenue made them an attractive partner for the financial institution. By offering a facility to BlockFi, the financial institution was able to tap into the potential of the cryptocurrency market and diversify their portfolio. This mutually beneficial partnership allowed BlockFi to continue growing and providing innovative financial services to their customers.
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