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Milo Launches First Crypto Cashout Refinance and Undercollateralized Crypto Mortgage
Milo, a financial technology company reimagining the way global and crypto consumers access financial solutions, today launched the world’s first crypto refinance offering and undercollateralized mortgage. This new refinance product enables borrowers to access US dollars by pledging their crypto assets and their property to cash out up to 100% of their property’s home equity value. These borrowers can now use the cash proceeds from the property to pay off existing debt, repurchase crypto or invest in other assets.
Milo’s crypto refinance offering is a gamechanger for those who previously sold their crypto or took out a short-term crypto loan to buy a home in cash. This solution allows them to extend the repayment term to 30 years and gain access to financing they would have preferred from inception. Milo’s crypto refinance also requires significantly less crypto collateral than similar products on the market.
“Based on the success of our crypto mortgage offering, we are now able to empower those who would have liked 100% financing via a crypto mortgage when purchasing their home. With our crypto refinance they can benefit from having access to their home equity when attractive investment opportunities come up,” said Josip Rupena, CEO and Founder of Milo. “We will continue to pioneer this space and help individuals diversify their crypto wealth with real estate by creating unique offerings that are only possible with crypto.”
In addition to this crypto refinance solution, Milo is excited to publicly release the first undercollateralized crypto mortgage backed by USDC. By request of consumers and an effort to expand this solution, there is now an option to borrow 100% of the property’s value by only pledging 40% of the loan amount in USDC.
“At Milo, we are on a mission to drive financial inclusion and our crypto mortgage can do that for so many crypto consumers. We knew from day 1 that an undercollateralized crypto mortgage was needed and we are now one step closer to helping more clients qualify to buy real estate.” said Rupena. “Many crypto consumers are already earning and spending exclusively in the digital world. Our USDC offering simply helps these consumers build a bridge to the real world.”
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