APX Lending has launched the APX Line of Credit, a five-year revolving facility allowing eligible borrowers in supported jurisdictions to borrow against Bitcoin, Ethereum or both. Clients establish the facility once, draw funds as needed, repay principal and redraw available capacity without applying for a new loan. Interest accrues only on drawn amounts, with annual rates ranging from 10.49% to 11.99% depending on the outstanding balance. The product has no origination, prepayment or liquidation fees. Unlike APX’s fixed-term loans, which are backed by either BTC or ETH, the new facility combines both assets when calculating borrowing capacity. A client with $200,000 of Bitcoin and $100,000 of Ethereum, for example, could have up to $180,000 available at a 60% LTV (loan-to-value ratio). APX says capacity changes with collateral values and existing borrowings. The company says collateral is held in segregated BitGo Trust cold-storage wallets, is never rehypothecated and has insurance coverage of up to $250 million. APX also cites on-chain verification, automated monitoring of prices and loan LTVs, its 90/85 Standard for partial liquidations, and SOC 2-audited security controls. Founded in 2023, APX operates within a regulated framework, is registered with FINTRAC and FinCEN, and provides direct lending as well as Lending-as-a-Service for financial institutions and fintechs.