APX Lending, a Toronto-based cryptocurrency lending company, plans to launch Bitcoin-backed mortgages in Canada in the first quarter of 2027. Borrowers could pledge their Bitcoin to finance a property without selling it, with a 95,000-dollar down payment requiring about 190,000 dollars in Bitcoin collateral. APX has opened a waitlist, but interest rates, repayment periods and borrowing conditions have not yet been announced. The company currently stores customers’ cryptocurrency with BitGo and does not lend those assets, while separate rules for liquidation and default remain to be established. The product is entering a market where Canadian residential mortgage debt reached 1.75 trillion dollars in June, while global crypto-collateralized lending fell 16.78% to 56.16 billion dollars in the second quarter.
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