The digital asset management firm BlockFi now supports the Gemini Dollar (GUSD) accounts. This news comes from the official website of BlockFi. The information further notes that these interest-bearing accounts will witness an annual turnout of 6.2%. The firm also renders GUSD as the U.S. dollar funding option. It can also act as collateral from the crypto borrowers.

The U.S. based customers would not have access to these accounts, as these are a deficit to administrative clarity surrounding the stable coin. The firms state that it is working with legal authorities to add this benefit for the U.S. residents. The BlockFi Interest Accounts (BIA) will give users access to the dollar-denominated debt markets. It will safeguard the user from the unstable crypto markets and will let them enjoy the benefits of the crypto ecosystem.

The CEO of BlockFi, Zac Prince says that they are excited to launch GUSD support throughout their platform. It will help to reinforce both BlockFi and crypto ecosystem. The inference of this functionality will see the crypto firms competing with traditional fintech banks. The companies can take advantage of assets like Bitcoin for on-ramps into a dollar-based blockchain ecosystem.

BlockFi faces criticism, as the company permits to calculate the interest rate per anum. David Silver of Silver Miller Law firms says that it fails to publicize its guarantees that could be ambiguous to users.