What do brokers think of crypto-backed mortgages?
While cryptocurrency has boomed in Australia over the past decade (with around a quarter of Australians owning some cryptocurrency, according to crypto exchange Swyftx), lenders have typically shied away from accepting it as a security.
However, with the currency gaining momentum, a new lending product could be set to launch in Australia that will allow crypto holders to use bitcoin (which reportedly accounts for more than half of the Australians’ crypto holdings) as security for deposit finance to enter the property market while “maintaining their Bitcoin market exposure”.
A new crypto-backed offering is set to be launched by digital asset fintech Block Earner, with a cash loan issued against bitcoin, covering up to 50 per cent of…
