Block Earner completes $8 million financing, launches Bitcoin-backed mortgage product

According to reports, Australian fintech company Block Earner has announced the completion of $8 million in financing to develop a Bitcoin-backed mortgage product. This product allows users to use Bitcoin as collateral to provide funding support for purchasing or renovating a home, with a loan interest rate of 9.5%. Repayment can be made in Australian dollars, additional Bitcoin, or a combination of both. Users can borrow up to 60% of the property's value as a down payment, with the mortgage ultimately provided by a third-party institution. Block Earner stated that the volatility of the cryptocurrency market is gradually stabilizing, related pilot projects have been launched, and it is expected that users will successfully purchase homes within this year.