TechFlow, August 20 — Australian fintech company Block Earner announced it has raised $8 million to develop a bitcoin-backed mortgage product. This product allows users to use bitcoin as collateral to secure funding for home purchases or renovations, with an interest rate of 9.5%, repayable in Australian dollars, additional bitcoin, or a combination of both. Users can borrow up to 60% of the property value as a down payment, while the final mortgage is provided by third-party institutions. Block Earner stated that volatility in the crypto asset market is gradually stabilizing, related pilot projects have launched, and they expect users to successfully purchase homes within this year.
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