Consumers in
California
and
Florida
can now leverage their digital assets to access instant
crypto
loans done right
MIAMI
,
Jan. 24, 2023
/PRNewswire/ —
Milo
, a financial technology company that is reimagining the way
crypto
and global consumers access financial solutions, today announced the launch of its new
crypto
loan product. This launch means that digital asset-holders will now have the opportunity to use their
cryptocurrency
as collateral to access loans, ranging in value from USD
$10K
–
$200K
and larger on a case by case basis.
Customers who own
crypto
(BTC,
ETH
, and USDC
)
can pledge these digital assets and borrow US dollars. To get started, customers will simply complete a short loan application and send collateral to a trusted qualified custodian to be held in cold storage. Milo clients will be underwritten based on alternative data, allowing for more individuals to qualify.
Crypto
loans offered by Milo can be used for many purposes, and be disbursed within hours once compliance is approved.
Milo has been developing this product since 2022 and expects it to be available to most applicants in Q1 2023. The company has a large waitlist where clients will be granted early access to qualify for loans. Milo plans to initially launch its services for borrowers in
California
and
Florida
with plans to expand to other states in 2023.
”
Crypto
loans are an essential financial solution when consumers want to hold their
crypto
for the long run but need dollars today,” said
Josip Rupena
, CEO and Founder of Milo. “Last year Milo launched an innovative
crypto
mortgage and with everything going on in the ecosystem we felt it was important to help our clients today by making it convenient for them to take out a
crypto
-backed loan. Many companies filed bankruptcy because they took extreme levels of risk and that’s not our philosophy. Simple, safe, and transparency is what we want to deliver.”
The company’s other
crypto
offering for real estate that launched last year, has already originated over
$10 million
in
crypto
mortgages and no customer has faced a margin call. Milo has also originated over
$130 million
in mortgages and has been regulated, licensed, and audited since 2020. Milo’s team brings decades of experience and its institutional capital base to create trusted
crypto
lending solutions. To learn more about the product and join the waitlist visit
About Milo:
Milo is a financial technology company that challenges conditions that hold back the future of the ambitious by reimagining financial solutions. As the leading
crypto
mortgage company, Milo provides
crypto
and global consumers access to mortgages, lending, and investing through a seamless online application. 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 U.S. home loans. Milo’s investors include M13, QED Investors, Metaprop, and 10X Capital. For more information visit
www.milo.io
.
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