APX Lending plans Bitcoin-backed mortgage launch in Canada

Toronto-based APX Lending has announced plans to launch Bitcoin-backed mortgage products in Canada by the first quarter of 2027. The proposed service would allow borrowers to use Bitcoin as collateral to secure home purchase funds or down payments without needing to sell their cryptocurrency first.

While specific interest rates, repayment terms, and loan-to-value (LTV) limits have not yet been disclosed, the company intends to release full terms before the official launch. APX Lending CEO Andrei Poliakov noted that the liquidation of Bitcoin collateral and the foreclosure on a property would be handled as separate legal procedures.

Currently, APX offers crypto-collateralized credit lines with interest rates ranging from 9.99% to 11.49% and LTV caps of up to 60%. The company estimates the Bitcoin-backed real estate financing market in Canada to be between $44 million and $73 million, a niche segment compared to the country's $1.75 trillion total residential mortgage market.

Although APX is regulated under Ontario's mortgage broker laws, the company clarified that this does not constitute a regulatory endorsement of the specific Bitcoin-backed mortgage product by Canadian securities or financial authorities.