2 years ago
Blockchain lending startup Figure Technologies unveils Crypto Mortgage and Crypto Mortgage PLUS, some of which let users to get against their bitcoin (BTC) oregon ether (ETH) to money location purchases.
"Any magnitude up to $20 million, for a 30 twelvemonth mortgage," said co-founder Mike Cagney connected his LinkedIn page. The loans volition besides beryllium 100% loan-to-value (LTV), i.e. "you enactment up $5 cardinal successful bitcoin oregon ether, we springiness you a $5 cardinal mortgage."
Payments, helium said, tin beryllium made via the borrower's crypto collateral, and Figure volition not re-hypothecate lawsuit crypto. Mortgages volition beryllium disposable arsenic soon arsenic adjacent month.
The company website offers a spot much detail, with the Crypto Mortgage merchandise being overmuch arsenic described supra by Cagney, and the Crypto Mortgage PLUS enactment allowing customers to get up to 50% of their crypto worth to marque a 20% down payment, with the remainder of the acquisition funded with a accepted mortgage.
Figure processes loans connected its proprietary Provenance Blockchain. The company's astir caller backing circular was past May, when it raised $200 million astatine a $3.2 cardinal valuation. Among the investors were 10T Holdings and Morgan Creek Capital Management.
DISCLOSURE
The person successful quality and accusation connected cryptocurrency, integer assets and the aboriginal of money, CoinDesk is simply a media outlet that strives for the highest journalistic standards and abides by a strict acceptable of editorial policies. CoinDesk is an autarkic operating subsidiary of Digital Currency Group, which invests successful cryptocurrencies and blockchain startups. As portion of their compensation, definite CoinDesk employees, including editorial employees, whitethorn person vulnerability to DCG equity successful the signifier of stock appreciation rights, which vest implicit a multi-year period. CoinDesk journalists are not allowed to acquisition banal outright successful DCG.
Jamie Crawley is simply a CoinDesk quality newsman based successful London.
Subscribe to The Node, our regular study connected apical quality and ideas successful crypto.
By signing up, you volition person emails astir CoinDesk merchandise updates, events and selling and you hold to our terms of services and privacy policy.
English (US) 