Jan 18, 2022, 07:00 ET
MIAMI, Jan. 18, 2022 /PRNewswire/ -- Milo, a financial technology company that is reimagining the way global consumers access financial solutions, today announced its new crypto mortgage. This is the world's first crypto mortgage offering that makes it easy for crypto investors to utilize their digital assets to purchase US real estate. The digital banking leader will now expand its offerings to serve the rapidly growing crypto segment.
Milo's clients will be able to pledge their Bitcoin to purchase property and finally qualify for a low interest rate 30 year crypto mortgage. This solution will allow clients to continue to own their bitcoin and diversify into real estate, all while keeping the potential price appreciation of both. Clients will be able to finance 100% of their purchase with no dollar down payments required and do this faster than a conventional mortgage. By combining the security of real estate with the liquidity of digital assets, Milo is able to bridge both the crypto and real world.
Milo has been developing this innovative mortgage since 2021 and expects it to be available to most applicants in early 2022. The company has a large waitlist where clients have been granted early access to qualify for loans.
"The world is changing rapidly, with how consumers make and invest their $2 trillion in crypto wealth," said Josip Rupena, CEO and Founder of Milo. "Clients expect us to come up with innovative solutions to extend credit to millions of great consumers. The existing ways for crypto consumers to access home credit has left them with unintended tax liabilities of selling for a down payment or worse the opportunity cost of seeing their crypto increase in value. There are countless stories of people buying property with bitcoin proceeds only to see it increase in value and be worth millions more."
The company's other mortgage solution for foreign nationals has originated millions of dollars in loans already and has seen applicants from over 63 countries. As a direct lender that is already licensed, audited, and insured, Milo is able to stand behind its commitment to lend its clients.
"This is an exciting time for the crypto and mortgage industries," said Rupena. "With our new crypto mortgage, we can expand our offerings to consumers that were previously denied by other banking firms just for having crypto. We have an opportunity to make sure that doesn't happen anymore and their bitcoin wealth can now help them buy a property."
"Milo's decision to expand their financial flexibility with crypto mortgages is a groundbreaking achievement for advancing the United States' dominance in crypto. To become the Capital of Capital, Miami needs companies like Milo who are willing to innovate and ideate." said Mayor Francis Suarez.
Milo is a financial technology company reimagining the way global and crypto consumers access financial solutions to 'Unlock what's possible.' By building a proprietary technology stack from the ground up and bringing on a world-class team, the company has enabled millions of dollars in US home loans. Milo is passionate about driving digital transformation of financial services, solving real problems, and making a meaningful impact in people's lives. Milo's investors include QED Investors, Metaprop, and 10X Capital. For more information visit www.milocredit.com or email [email protected].
SOURCE Milo Credit
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