Australian fintech company Block Earner has introduced what it describes as the first home loan backed by bitcoin. This innovative financial product enables Australians to utilize their bitcoin (BTC) as collateral for a home deposit without the need to liquidate their assets.
The startup provides loans of up to 50% of a property's value, with the loan being secured by the borrower's bitcoin. The cryptocurrency is held in a secure manner, allowing clients to retain ownership while accessing funds for their home purchase.
