Homes over $1 million in Florida, Texas, and Colorado can now be mortgaged with bitcoin as collateral.
lending platform moon mortgage has launched its main mortgage product that allows investors to use their bitcoin as additional collateral to secure financing for the purchase of real estate.
The mortgage product has been designed to work similar to traditional mortgages, with digital assets like Bitcoin serving as collateral, and is available to homebuyers in Florida, Texas, and Colorado, with plans to expand to investors in most US states for investment. properties. The minimum loan amount for the mortgage product is $1 million.
According to Tristan Marino, co-founder and COO of Moon Mortgage, “The use case for cryptocurrencies has to go beyond investment potential. It has to be about how an investor can use it for real-world gains…allowing investors to truly realize their digital wealth in real estate investments, as easily as possible and with compliance and security.” Marino added that Moon Mortgage is working to bridge the gap between traditional finance and bitcoin, with its mortgage product as part of its efforts to transform the bitcoin and cryptocurrency space into a true financial system.
In addition to this mortgage product, Moon Mortgage has also launched Trade & Borrow, which allows investors to borrow against bitcoin. Moon Mortgage’s two new products follow an initial raise of $3.5 million in October 2022, and the platform is actively looking to get more brokers involved. to partner with as it looks to scale up to meet investor demand.
