cryptonews.net
APX Lending has launched a five-year revolving line of credit backed by Bitcoin and Ethereum. The new product allows clients to borrow against their digital assets, repay the borrowed amount and use the available credit again when needed.
APX Lending is a regulated digital asset lending platform. The company says its clients have previously used crypto-backed loans for business financing, debt repayment, mortgages and other expenses.
The credit line works differently from a fixed-term loan. Clients establish the facility once and can access liquidity over five years without submitting a new loan application each time. Interest is charged only on the amount currently borrowed.
The annual interest rate ranges from 10.49% to 11.99%, depending on the outstanding balance. APX does not charge origination, prepayment or liquidation fees. The available borrowing capacity changes according to the market value of the assets and the amount already borrowed.
Client collateral is held in segregated cold-storage wallets provided by BitGo Trust and is not rehypothecated. APX also provides on-chain collateral verification and automated monitoring of loan-to-value ratios.
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