The cryptocurrencies They hit the mortgage market. The company Milo, focused on financial products for home purchases in the United States, reported that it has placed 10 million dollars in financing that is guaranteed by the digital assets of the beneficiaries.
According to the firm founded by Josip Rupena, this product of crypto mortgage It has been resilient in the current economic context, in an environment of high inflation and rising interest rates that impact the costs of traditional mortgages.
“Given the current state of the market, we are very proud to have had no margin calls or negative counterparty exposure as we continue to originate mortgages,” Rupena said.
The product where cryptocurrencies of people can be used as collateral for a mortgage loan that can finance up to 5 million dollars, over 30 years, with an interest rate that starts at 6.95% per year.
According to Milo, many users of the cryptocurrencies they have been marginalized from traditional financial products, which have denied them the opportunity to access safe schemes and, therefore, resort to riskier ways of generating returns.
“As an authorized and regulated entity, we take very seriously our responsibility to ensure that cryptocurrencies of our customers are safe and returned when requested,” added Rupena.
Within Milo’s solutions offering, the prequalifications of crypto mortgageswhere users are informed how much they can pay.
“Milo has added more than 20 team members since launch and we look forward to launching an exciting refinancing option for cryptocurrencies and not remortgage soon,” said Rupena.
At the beginning of this year, the firm announced the launch of its mortgage that unites digital assets with traditional finance and in which it allows users to qualify with cryptocurrencies like Bitcoin, Ethereum or USDC.
To buy properties, users pledge their cryptocurrencieswhich are held via the Gemini and coinbaseand thus they can liquidate up to 100% of their purchase, without the need for an initial payment.
Regarding another of its products, where a mortgage solution is offered for citizens Americans and foreignersthe firm has allocated more than 100 million dollars in loans and has seen applicants from more than 90 countries.
