TLDR
- APX Lending plans to offer bitcoin-backed mortgages in Canada in early 2027.
- Buyers could borrow against bitcoin for a down payment or the full home price.
- Rates, loan terms and liquidation rules have not been announced.
- A 40% bitcoin price drop could push a standalone loan from 50% to about 83% loan-to-value.
- A waitlist is open, and terms will be published before launch.
APX Lending said Wednesday it plans to offer bitcoin-backed mortgages in Canada in early 2027. The Toronto-based company opened a waitlist the same day.
🚨 NEW: 🇨🇦 Canadian lender APX Lending plans to launch Bitcoin-backed mortgages in early 2027, allowing homebuyers to use $BTC as collateral without selling their holdings.
The company has opened a waitlist, with loans covering down payments or full home purchases. Interest… pic.twitter.com/k2J76gWgpk
— TheNewsCrypto (@The_NewsCrypto) October 29, 2026
The mortgages would let homebuyers keep their bitcoin instead of selling it to buy property. Customers could borrow against their bitcoin for a down payment or the full purchase price.
APX expects to begin offering the loans in the first quarter of 2027. The company says it will be Canada’s first regulated bitcoin-backed mortgage provider.
How the Loans Would Work
APX CEO Andrei Poliakov gave an example using a home that costs about $475,000. A buyer could pledge $190,000 in bitcoin to borrow $95,000 for a 20% down payment.
A buyer who wants to finance the whole purchase would need to pledge about $475,000 in bitcoin. The home would also serve as collateral.
APX uses BitGo to hold customer cryptocurrency. The company says it does not lend out the pledged assets.
Poliakov estimates the Canadian market for bitcoin-backed real estate financing at $44 million to $73 million. He said 15.8% of APX’s current crypto-backed loan volume is tied to real estate.
Last month, APX announced five-year lines of credit backed by bitcoin and ethereum. The mortgage plan would extend its lending into Canada’s residential mortgage market, where debt reached $1.75 trillion in June, according to the Canada Mortgage and Housing Corporation.
Costs and Risks Remain Unclear
APX has not published mortgage rates, repayment periods or loan-to-value limits. It has also not said when borrowers could face margin calls or collateral liquidation.
Its current crypto-backed loans carry annual rates of 9.99% to 11.49%. Those loans use a 60% loan-to-value ratio, and the terms may not apply to the mortgages.
Poliakov said using the property as extra collateral could lower borrowing costs. He declined to give an expected mortgage rate.
A sharp drop in bitcoin’s price could force borrowers to add collateral or see pledged bitcoin sold. Poliakov said a 40% drop would push a standalone loan from 50% to about 83% loan-to-value.
APX’s current system sells some bitcoin when loan-to-value reaches 90%, bringing it down to 85%. Poliakov said the mortgage program would have separate collateral and default rules.
He said selling bitcoin collateral and enforcing a mortgage against a home are distinct actions. Whether a shortfall could put a home at risk would depend on the loan agreement.
Similar loans already exist in the United States. Miami-based lender Milo said in February it had originated more than $100 million in crypto-backed mortgages, including one $12 million loan.
Prospective borrowers can join the APX waitlist now. Poliakov said the company will publish the mortgage terms before launch, but it has not set a date.
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