BlockFi co-Founder Zac Prince said in a statement – We have added GUSD and LTC to be used as collateral for crypto-backed loans. This is the company’s first expansion of accepted collateral into top-10 cryptocurrencies. As per the press release – The newly added GUSD option will empower BlockFi to offer loans at any time, and not only during US bank hours. As BlockFi vice president of operations and co-founder, Flori Marquez said – Many parts of the world yet do not have easy access to low-cost credit. With BlockFi support to GUSD, we are looking forward to providing stability to citizens of regions with less stable currencies.
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