Crypto mortgage lender Milo surpasses $100 million in home loans
Milo has exceeded $100 million in crypto-backed mortgages, including a record $12 million deal, offering loans without requiring crypto sales.Summary
Milo, a cryptocurrency lending firm specializing in crypto-backed mortgages, has surpassed $100 million in originated home loans, highlighted by a recent $12 million mortgage. The company operates in ten U.S. states and boasts a perfect record of avoiding margin calls despite crypto market volatility. Milo allows users to leverage their Bitcoin or Ether as collateral—up to $25 million—without selling their assets, avoiding taxable events and down payment requirements. Founder Josip Rupena notes this product caters to individuals with significant crypto holdings but limited traditional income. Loans, starting at 8.25%, can be used for property acquisition, improvements, or business investments, and are designed to withstand larger drawdowns (65%) than typical crypto loans. Transactions are concentrated in states like Florida, Texas, and Tennessee, and the product has received praise from Bitcoin pioneer Adam Back, who calls it a “game changer” for bitcoin lending.
(Source：CoinDesk)