APX Lending launched a five-year revolving line of credit on September 3, allowing clients to borrow against Bitcoin, Ethereum, or both. The facility has no origination, prepayment, or liquidation fees and provides up to $250 million in collateral insurance coverage. Unlike APX’s fixed-term loans, the product combines both assets when calculating borrowing capacity, charges interest only on drawn funds, and lets clients draw, repay, and redraw without taking out a new loan. Borrowing capacity changes with the market value of pledged crypto. APX, founded in 2023 and based in Toronto, is registered with FINTRAC (Canadian financial intelligence agency) and FinCEN (U.S. financial crimes agency). The launch comes as banks and other lenders expand crypto-backed borrowing products, including longer-term market projections from Ledn and a stated plan by Sberbank to lend against Bitcoin, Ethereum, and USDT.