Options for borrowing and lending with cryptocurrencies are on the rise. One of the latest start-ups to join the likes of SALT and Unchained Capital is BlockFi, a New York City–based startup that issues loans backed by bitcoin and ether to individuals, companies and institutions in 35 U.S. states.Collateralization of cryptocurrency assets benefits retail borrowers by allowing them to hold onto their crypto assets rather than selling them in order to make large purchases, like buying a car. They can also save on taxes by borrowing against crypto assets versus selling them. Corporate and institutional borrowers realize …
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