TechFlow news, April 11 — According to CoinDesk, crypto lending platform APX Lending has secured a $20 million scalable credit facility from private credit investment firm Cypress Hills. The facility allows borrowers to increase loan amounts without renegotiating the overall agreement.
APX Lending plans to use the funds to accelerate its expansion in Canada to meet growing demand for crypto-backed loans. Earlier this month, APX received exemptive relief from the Canadian Securities Administrators (CSA), waiving certain registration and prospectus requirements.
Andrei Poliakov, founder and CEO of APX Lending, said the scalable credit facility marks a significant step forward in the company’s mission to provide Canadian users with transparent, secure, and convenient crypto-backed lending services.
