Financial technology firm Milo is detailing its new crypto mortgage offering, which seeks to ease the process of crypto investors utilizing digital assets to buy domestic real estate.
“The world is changing rapidly, with how consumers make and invest their $2 trillion in crypto wealth,” Milo CEO and Founder Josip Rupena said. “Clients expect us to come up with innovative solutions to extend credit to millions of great consumers. The existing ways for crypto consumers to access home credit has left them with unintended tax liabilities of selling for a down payment, or worse, the opportunity cost of seeing their crypto increase in value. There are countless stories of people buying property with bitcoin proceeds only to see it increase in value and be worth millions more.”
Milo noted its clients would be able to pledge Bitcoin to purchase property and qualify for a low-interest rate 30-year crypto mortgage while continuing to own their bitcoin and diversifying into real estate, keeping the potential price appreciation of both.
“This is an exciting time for the crypto and mortgage industries,” Rupena said. “With our new crypto mortgage, we can expand our offerings to consumers that were previously denied by other banking firms just for having crypto. We have an opportunity to make sure that doesn’t happen anymore and their bitcoin wealth can now help them buy a property.”