This feature is available in the Visual editor field and in the Text block module settings on posts, portfolios, galleries and simple pages.
You can highlight the quote content text and click on the Blockquote icon. This will add line and quote icon decoration for the selected part of the text and change the font style of it.
Use the Blockquote to make a special accent on excerptions or quotations which will allow to underline the statements of a primary importance and give more facts, arguments and evidence.