In a first for Australia, a digital asset fintech has been granted a credit licence by the Australian Securities and Investments Commission, pushing crypto-backed lending further into the mainstream.

Digital asset fintech Block Earner has become the first digital asset platform in Australia to be regulated to provide credit products under its own licence, having previously operated as a credit representative of Australian Credit Licence holder Mortgage Direct under the Australian Securities and Investments Commission’s (ASIC) regulatory framework.

Block Earner will now conduct its lending activities under its own Australian Credit Licence, enabling it to originate, underwrite, and offer regulated credit products…