Bitcoin-backed mortgages are coming to Canada, but borrowers are still unaware of the cost
Source: CoinDesk ·
From the source
Prospective borrowers face collateral liquidation risks if bitcoin prices drop, though APX said property and crypto collateral will be handled distinctly. 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. The company said customers could borrow against their bitcoin for a down payment or the full purchase price, but it has yet to announce interest rates or loan terms. The Toronto-based company opened a waitlist on Wednesday, saying it expects to begin offering mortgages in the first quarter of 2027. APX, which already provides crypto-backed loans, claims it will be Canada’s first regulated bitcoin-backed mortgage provider. Last month, APX Lending announced the rollout of five-year bitcoin and ethereum-backed lines of credit. The new move would bring cryptocurrency lending into Canada’s residential mortgage market, where outstanding debt reached $1.75…