The Moon Mortgage team announced that the service will be offered to all holders of liquid cryptoassets, who will be able to use the borrowed funds for the purposes of financing the purchase of real estate. The company said that the period for consideration of loan applications will be about 14 days, and the minimum amount of the requested loan should be more than $1 million.
Moon Mortgage will accept investors’ digital assets as collateral and then provide 100% financing for real estate investment. The company clarified that until the debt is repaid, the property is also pledged for the loan.
The scenario for using the cryptocurrency transferred to provide financing for mortgage loans does not involve the placement of collateral on the balance of the crypto lender Moon Mortgage. All pledged digital assets will be transferred for safekeeping to one of Moon Mortgage’s banking partners. This measure will protect clients’ assets from potential speculation and embezzlement, company representatives hope.
The first cryptocurrency loan in Wall Street history was received in 2022 by the Coinbase exchange, which was lent by the investment bank Goldman Sachs secured by bitcoins.
Source: Bits
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