Canada · Bitcoin · U.S. · CoinDesk
Canadian lender APX Lending confirmed Wednesday it is set to offer bitcoin-backed mortgages in early 2027
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The Toronto-based company opened a waitlist on Wednesday, saying it expects to begin offering mortgages in the first quarter of 2027.
Key facts
- APX founder and CEO Andrei Poliakov told CoinDesk he estimates the Canadian market for bitcoin-backed real estate financing at $44 million to $73 million
- For a home costing about $475,000, Poliakov said a buyer could borrow $95,000 for a 20% down payment by pledging $190,000 in bitcoin
- Miami-based lender Milo said in February it had originated more than $100 million in crypto-backed mortgages, including a single $12 million loan
- Its existing crypto-backed loans carry annual rates of 9.99% to 11.49%, with borrowing estimates based on a 60% loan-to-value ratio
Summary
Canadian lender APX Lending said Wednesday it plans to offer bitcoin-backed mortgages in early 2027, giving homebuyers the option to keep their BTC rather than sell it to buy property. Last month, APX Lending announced the rollout of five-year bitcoin and ethereum-backed lines of credit. Similar products have gained some traction in the United States. APX founder and CEO Andrei Poliakov told CoinDesk he estimates the Canadian market for bitcoin-backed real estate financing at $44 million to $73 million.