Bitcoin backed mortgages coming to Canada? APX opens waitlist, terms pending

APX Lending, a Toronto-based cryptocurrency lending company, has announced its plans to introduce Bitcoin [BTC]-backed mortgages in Canada in the first quarter of 2027.

The proposed product would allow homebuyers to use their Bitcoin holdings as collateral to borrow money for purchasing property, instead of selling their cryptocurrency to raise cash.

Typically, people who own Bitcoin but want to buy a home were supposed to sell some of their holdings to fund the down payment or purchase. But now APX wants to offer an alternative that allows borrowers to retain ownership exposure to Bitcoin while accessing funds for real estate.

How is APX providing Bitcoin loans in Canada?

Here, the mortgage product would work by allowing borrowers to pledge Bitcoin to secure a loan. For instance, a $95,000 down payment loan would need $190,000 in Bitcoin collateral if a borrower wanted to buy a house worth $475,000.

Meanwhile, $475,000 in Bitcoin would be needed to cover the entire purchase price, with the property acting as collateral. 

Explaining the purpose of this Bitcoin loan, APX CEO Andrei Polyakov noted, 

People don’t borrow to reinvest in digital assets, but they borrow to invest in real estate, to open up new businesses to buy property, send their kids to college. I mean, these are all real examples from our users.