Australia's first Bitcoin-backed home loan product enables borrowers to use Bitcoin as collateral, addressing housing affordability challenges.
On July 18, Block Earner launched Australia's inaugural Bitcoin-backed home loan product, allowing borrowers to use Bitcoin as collateral without liquidating their assets. This follows a legal win against the Australian Securities and Investments Commission, enabling loans for up to 50% of property value with interest rates starting at 9.5%. This innovation aims to tackle the housing affordability crisis in Australia, where home prices have soared relative to incomes.