APX Lending Wants to Offer Canada’s First Bitcoin Mortgages
APX Lending wants to launch regulated bitcoin mortgages in 2027, letting homebuyers pledge their BTC instead of selling it. Interest rates and loan terms are still unknown.
Key Takeaways
- APX Lending wants to offer bitcoin mortgages in Canada in the first quarter of 2027.
- Buyers can keep their bitcoin and use it as collateral for a down payment or the full purchase price.
- Interest rates, loan terms, loan-to-value limits, and rules for margin calls and liquidation are still unknown.
APX Lending wants to offer bitcoin mortgages in Canada starting in early 2027. The Canadian lender says buyers can keep their BTC instead of selling it to finance a home, but the interest rate and other loan terms are still unknown.
First Regulated Provider
The Toronto-based company opened a waitlist on Wednesday and says it wants to launch the mortgage service in the first quarter of 2027. APX, which already offers crypto-backed loans, calls itself the first regulated provider of bitcoin mortgages in Canada.
The move brings crypto lending to the Canadian housing market, where outstanding mortgage debt reached $1.75 trillion (€1.6 trillion) in June, according to the Canada Mortgage and Housing Corporation. APX is targeting a market where home financing is huge, but where bitcoin still plays only a small role as collateral.
How the Collateral Works
According to APX, customers can borrow for just the down payment or for the full purchase price. For a home worth about $475,000 (€426,700), for example, a buyer could borrow $95,000 (€85,300) for a 20% down payment by pledging about $190,000 (€170,700) in bitcoin. Someone who wants to finance the full purchase price without a cash down payment would need to put up about $475,000 (€426,700) in bitcoin, while the home itself also serves as collateral.
The company has not yet disclosed interest rates, loan terms, loan-to-value limits, or rules for margin calls and liquidation. That matters because bitcoin’s value can swing sharply. A steep drop could force a borrower to add more collateral or cause part of the pledged BTC to be sold, depending on the final terms.
APX does say it stores customer crypto through BitGo and does not lend it out. For its existing loans, the company uses automatic liquidation checks that start partial selling at a loan-to-value ratio of 90%, after which the ratio moves back to 85%.
Why This Matters for Buyers
For European and Dutch crypto followers, this is mainly relevant because it shows bitcoin is increasingly being viewed as collateral outside the traditional crypto market. At the same time, APX makes it clear that the home and the bitcoin are not automatically treated the same way if something goes wrong, which highlights the legal and practical risks of this kind of product.
In the broader market too, BTC is increasingly shifting from trading to financing. In a recent overview of bitcoin loans for everyday expenses, it already became clear that more borrowers are using their coins for things like education, business capital, and emergencies instead of selling.
APX has also not yet given a date for when the final mortgage terms will be published. The company says it will share them ahead of the planned launch.
