Crypto Mortgage Company has issued $10 million in loans since April
Crypto lending company Milo Credit offers global crypto users access to financial solutions outside of traditional finance.
Despite the crypto winter, it seems that the crypto life is on. Milo Credit has announced that they have closed $10 million in crypto loans in the US alone. Their 30-year crypto loan was first brought to market last April.
The company says the product is the world’s first crypto loan offering, and it makes it easy for crypto investors to use their digital assets to buy real estate.
Josip Rupena is CEO of Milo. “The success of our crypto loan in recent months serves as proof of our ability to pioneer and create a unique solution for the crypto community. We have incredible momentum and see a fundamental need to help individuals diversify their wealth to generate real returns through real estate. In today’s volatile environment, our crypto loan is an excellent solution for customers who want to continue to own crypto and invest in real estate, while retaining the potential price appreciation of both.”
Crypto mortgage – a first
Milo says they were the first fintech to offer a mortgage that bridges the gap between digital assets and traditional finance. Investors qualify for the mortgage with Bitcoin, Ethereum and USDC. “To buy real estate, clients can pledge their crypto with regulated and insured custodians (Gemini and Coinbase) and finance up to 100% of the purchase with no down payment required. Those who qualify can take advantage of low interest rates and a 30-year crypto loan of up to 5 million dollars.”
Miami Mayor Francis Suarez said: “Bridging traditional finance and crypto is one of the most important pieces of the puzzle to make cryptocurrency and blockchain more ubiquitous in our daily lives. With their mortgage product, Milo has already proven that the future of finance will serve to to build wealth just like the financial tools of the past.”
Property and building assets
The company says real estate is a critical component of building wealth over time. Crypto users have lacked the ability to buy real estate – so they have resorted to riskier ways to generate returns.
The company says it has pre-qualified thousands of borrowers for crypto loans. This is so that borrowers know what they can afford. “Milo’s mortgage solution for US and foreign nationals has already received over $100 million in loans and has seen applicants from over 90 countries.”
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