Crypto lending firm BlockFi posted another record-breaking month in February, paying out over $35 million in interest to its clients.

The involvement payments were comprised of 450 Bitcoin (BTC), 5,000 Ether (ETH) and $6 1000000 in stablecoins, CEO Zac Prince said.

Clients of BlockFi are able to earn interest on Bitcoin, Ether and stablecoins by depositing their cryptocurrencies into an interest-bearing business relationship. The visitor has grown in popularity equally more users look to earn passive income on their digital avails.

In improver to savings accounts, BlockFi as well provides collateralized crypto loans, which allow users to stake their avails for fiat currency.

In February, BlockFi secured $30 one thousand thousand in funding from some of the crypto industry'due south biggest investors, including Morgan Creek Digital, Winklevoss Majuscule and Arrington XRP Majuscule. With digital avails increasingly becoming mainstream, the platform has been able to attract more clients over the past 12 months.

As Cointelegraph previously reported, BlockFi entered into a partnership with Visa in December 2020 to launch a new Bitcoin rewards credit card. The new bill of fare allows users to earn BTC on purchases rather than airline miles or greenbacks. Cardholders are eligible to receive ane.5% of their purchase dorsum in BTC.

The growth of BlockFi has coincided with a surging bull market for digital avails. The combined market capitalization of all cryptocurrencies peaked north of $1.seven trillion last calendar month. While the market has cooled, the collective value of cryptocurrencies currently sits at just nether $i.5 trillion.