Block Earner, a fintech company based in Sydney, has introduced what it claims to be Australia’s first Bitcoin-backed home loan, allowing Australians to purchase homes without liquidating their Bitcoin. The firm offers loans up to 50% of a property's value, secured against the borrower's Bitcoin, which is held securely by Fireblocks. Borrowers can repay in cash or cryptocurrency and exit the loan early without penalties. Co-founder James Coombes emphasized the potential to unlock liquidity for those previously excluded from traditional asset markets. CEO Charlie Karaboga described the product as a significant advancement in property financing within the digital asset space. The process involves transferring Bitcoin to a custodian, borrowing against it, and obtaining the rest from a conventional lender. The loan is interest-only for up to four years, with a 60% loan-to-value cap to mitigate Bitcoin's volatility. Block Earner has reported over AUD$110 million in early interest during its soft launch, indicating strong demand for this innovative financing option. Read more AI-generated news on: https://app.chaingpt.org/news

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