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Definition: BlockFi

A cryptocurrency exchange that also offers loans and interest-bearing accounts similar to a traditional bank. Founded in 2017, BlockFi is noted for its low fees and institutional backing from investors such as Fidelity and Coinbase Ventures. Products include crypto-backed U.S. dollar loans, a crypto wallet, cash-back (in crypto) credit card and trading in a select number of major crypto coins. See Alameda Research.