Blockchain.com continues US expansion: Crypto broker goes live in Michigan

Rick Steves

Blockchain.com is currently valued at $5.2 billion and has reported more than $1.5B in 2021 YTD revenue.

Blockchain.com has launched custodial and brokerage services in Michigan as the company keeps on expanding its crypto platform in the United States.

More than ten million Michigan residents have now access to the trading platform as Michigan user sign-ups doubled upon launch.

The trading platform allows users to monitor, buy, sell, trade, and store crypto using their non-custodial Wallet, Exchange, and blockchain Explorer.

Blockchain.com has launched across Oklahoma, Iowa, North Dakota, and South Dakota in recent weeks. Other key states that have gone live with the digital asset exchange are Alaska, Delaware, Florida, Illinois, New Hampshire, New Mexico, and Oregon.

Available in more than 30 states, the crypto platform is actively working through individual license approvals to bring product availability to all U.S. residents.

The London and Miami-based company has an international team spread across the world helping millions across the globe safely access cryptocurrency.

The firm has raised more than $500 million in funding from leading global investors including Eldridge, GV, Kyle Bass, Lakestar, Lightspeed Venture Partners, Moore Strategic Ventures, and Rovida Kruptos Assets Limited.

The remote-first company is also offering roles across compliance, customer success, data science, engineering, finance, people operations, and marketing for Michigan residents.

Brooks Wallace, Head of Communications at Blockchain.com, commented: “Crypto has been making a splash in the Great Lakes State, even producing a bitcoin millionaire. While we’re thrilled to build on that excitement, the real aim of bringing our products to Michigan is to make them accessible to all Americans. As more residents seek out the benefits of crypto, we look forward to serving as a trusted resource helping to build the future of finance.”

Blockchain.com is currently valued at $5.2 billion and has reported more than $1.5B in 2021 YTD revenue as the company is home to a growing Institutional Markets business and boasts over 37 million verified accounts across more than 200 countries.

The firm has recently launched leveraged trading on its cryptocurrency exchange, featuring margin with up to 5:1 leverage in the BTC-USD trading pair.

The margin trading service, available in more than 150 countries, allows traders to multiply exposure to the markets, both increasing the potential for profit but also for loss.

Blockchain.com is one of the world’s oldest and cryptocurrency platforms and is now following the leveraged trading trend that has taken the crypto space by storm.

The platform allows flexibility with fund management, so traders can use either a base or counter currency to open margin positions.

With .12% daily (.0005% hourly) on open margin positions, Blockchain.com claims its margin rates are among the lowest and most competitive in the industry.

 

 

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