Propy Introduces Crypto-Backed Mortgage Services for Real Estate Purchases

Propy, a leading real estate tokenization firm, is revolutionizing the way people buy property with the launch of its crypto-backed mortgage services. This innovative solution enables prospective buyers to use their digital assets as collateral to secure loans and purchase real estate.

Breaking Down the Service

The service allows Bitcoin and Ethereum holders to use their digital assets as collateral to buy property. This marks a significant milestone in Propy’s mission to make the $300 trillion real estate market more liquid and swappable.

“This isn’t just a milestone; it’s a glimpse into the future of real estate,” said Natalia Karayaneva, CEO of Propy. “We’re demonstrating how blockchain technology can simplify home buying, replacing the traditionally lengthy loan approval process with an instant, efficient solution.”

Key Features of the Crypto-Backed Mortgage Service

The loans will be double-collateralized, with the property accounting for 50% of the collateral and the cryptocurrency covering the remaining 50%. The interest rate is set at 10%.

Here are some key benefits of the service:

  • Use cryptocurrency as collateral to purchase real estate
  • Retain ownership of digital assets
  • Instant and efficient loan approval process
  • Competitive interest rate of 10%

First Property Listing

Propy’s first offering under this service is a condominium in Honolulu, Hawaii, with an asking price of $250,000. The property will go on sale on January 29, 2025.

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