Crypto lending and Wealth management firm BlockFi has collected around $18 million of bitcoin and ether deposits from last month, which brings its overall interest-earning accounts to $53 million. BlockFi declared its latest update via a blog post on April 23.

In the latest declaration, BlockFi mentions that it will execute some policy changes beginning from May 1, 2019. Particularly, the firm states that the minimum deposit to earn interest has been reduced. Anyone who possesses 0.5 BTC to 1 BTC will see an interest payment deposited in their account on the end of the month. Thus, BlockFi will provide payment towards lower balances as well.

Also, the firm has changed the incentives for depositing ETH. Initially, the clients were getting an interest account offer of 6.2% for up to 500 ETH, which has now been reduced to 250 ETH. Moreover, there will be 2% primary interest account offer for anyone which crosses the limit, which anticipates because of reduced demand to borrow ETH from the company. 

BlockFi has stated that it will add a fiat withdrawal fee of 0.25 BTC and 0.0015 ETH in April, even though all the withdrawals before that will be absolutely free. BlockFi described,

 “These small adjustments are necessary to ensure that BIA can support as many clients as possible while maintaining the high-quality services we provide to the average crypto consumer.” 

BlockFi has also extended its operations in India. This simply means that the service will be available globally neglecting the blocked territories in U.S, U.K, and E.U. 

BlockFi CEO, Zac Price told Coindesk, "We grew the client base around 50 percent in the first half of April from the end of March." He further added, “We expect the quantity of new clients to increase further as we lower the minimum balance requirement for interest earning eligibility. We also see incremental deposits from existing clients, especially around the beginning of the month after interest payments are made.”

Currently, there are a total of 50 Countries where BlockFi provides its services, and the firm wants to enhance its features for interest earnings in the future. BlockFi has been providing fiat loans through Bitcoin and Ether. The firm provides loan from the beginning of this year after acquiring funding from ConsenSys, Galaxy Digital, Ventures, SoFi, and Kenetic Capital.