Canadian Lender APX Plans Bitcoin Backed Mortgages for Early 2027

Toronto based APX Lending announced Wednesday that it intends to offer mortgages secured by bitcoin in the first quarter of 2027, so buyers can keep their BTC instead of selling it. Borrowers could use the loans for a down payment or the entire purchase price. The company, which says it will be Canada’s first regulated provider of this kind, has opened a waitlist but has not shared interest rates or loan terms.

How a Bitcoin Mortgage Could Work

Founder and CEO Andrei Poliakov gave an example using a home worth about $475,000. A buyer could borrow $95,000 for a 20% down payment by pledging $190,000 in bitcoin. Someone wanting to skip the cash down payment would need to pledge roughly $475,000 in bitcoin, and the property would also act as collateral. Poliakov values the Canadian market for this kind of financing at $44 million to $73 million, and says 15.8% of APX’s current crypto loan volume is already tied to real estate.

Liquidation Risks for Crypto Borrowers

Existing loans carry annual rates of 9.99% to 11.49%, though these may not apply to mortgages. APX uses BitGo for custody and does not lend out collateral. Poliakov said selling bitcoin and enforcing a mortgage on a home are separate actions, and whether a shortfall could threaten the house depends on the loan agreement.

Crypto Mortgages Already Growing in the US

Canada’s residential mortgage debt reached $1.75 trillion in June. In the United States, Miami-based Milo said it has originated over $100 million in crypto-backed mortgages, including one $12 million loan, with terms up to 30 years.