Crypto-backed home loans launching in Australia
Australia’s first crypto-backed home loan is launching after emerging victorious in a court case with ASIC.
Block Earner will become the first to offer bitcoin-backed home loans in Australia following a lengthy court case with the Australian Securities and Investments Commission (ASIC). The case resulted in the Federal Court determining the company did not require a financial services licence to offer its product.
Block Earner said in a statement that it will continue to collaborate with regulators to support “long-term consumer and market confidence.”
Now prepping for launch, Block Earner will offer loans up to $5 million, with deposit loans up to 60 per cent of the bitcoin’s value.
Customers can pay…
