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APX Lending launches Bitcoin and Ethereum revolving credit line
APX Lending, a Toronto-based regulated digital-asset lender, has launched a five-year revolving line of credit. The new facility allows clients to borrow against Bitcoin, Ethereum, or a combination of both assets.
Key features of the credit line include the absence of origination, prepayment, or liquidation fees. The company provides up to $250 million in collateral insurance coverage. Interest rates for the facility range from 10.49% to 11.99% annually, depending on the outstanding balance, with interest accruing only on the amount drawn.
As a revolving facility, the credit line allows users to establish the line once and subsequently draw, repay, and redraw funds as needed. The available credit adjusts dynamically based on the market value of the pledged collateral. APX Lending is the first digital-asset-backed lender approved by Canadian securities regulators and maintains registrations with both FINTRAC and FinCEN.
Entities
APX Lending · Andrei Poliakov · Bitcoin · Ethereum · Toronto
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The facility carries no origination, prepayment, or liquidation fees. bitcoinethereumnews.com · blockchainreporter.net
- [● 2 SOURCES] APX Lending launched a five-year revolving line of credit on September 3. bitcoinethereumnews.com · blockchainreporter.net
- [● 3 SOURCES] The five-year revolving facility allows clients to draw, repay, and redraw credit as needed. bitcoinethereumnews.com · www.fintech.ca · blockchainreporter.net
- [● 2 SOURCES] Clients can use both Bitcoin and Ethereum together to calculate borrowing capacity. bitcoinethereumnews.com · blockchainreporter.net
- [● 2 SOURCES] The credit line includes up to $250 million in collateral insurance coverage. bitcoinethereumnews.com · blockchainreporter.net
- [● 2 SOURCES] The company is registered with FINTRAC and FinCEN. bitcoinethereumnews.com · blockchainreporter.net
- [● 2 SOURCES] Annual interest rates range from 10.49% to 11.99% based on the outstanding balance. bitcoinethereumnews.com · blockchainreporter.net
- [● 3 SOURCES] APX is Canada’s first regulated digital-asset-backed lender. bitcoinethereumnews.com · www.fintech.ca · blockchainreporter.net