Moon Mortgage, a cryptocurrency lending company, has launched a new mortgage offering and a crypto loan margin account called “Trade & Borrow.”
In an effort to assist cryptocurrency investors in realizing their digital wealth, cryptocurrency lending company Moon Mortgage has introduced two products: a new mortgage offering and a new crypto loan margin account dubbed “Trade & Borrow.”
Investors can borrow money via Trade & Borrow while still having some control over their cryptocurrency assets. After taking out a cash loan, investors using the Moon Mortgage service can continue to trade their digital assets, preserving their potential upside.
In order to use a custody solution that gives borrowers confidence, Moon Mortgage and its affiliates are collaborating with a US fully regulated digital asset bank. Moon Mortgage stores all digital assets with the bank on a like-for-like basis. Moon Mortgage, in contrast to its rival offerings, does not lend the assets it accepts as collateral.
Using Trade & Borrow, investors can obtain a loan with a period of one, three, or six months. Loan renewal is an option for borrowers, and there is no prepayment penalty. Investors can quickly sell their holdings when they think the time is right and there are no origination fees. With investors being able to acquire their loans in as little as three stages, the Moon Mortgage team has also concentrated on the need to keep the procedure as straightforward as possible.
Assisting investors following “a very difficult year”
The co-founder and CEO of Moon Mortgage, Aaron Nevin, outlined the current need for such offers among cryptocurrency investors. According to Nevin, “Against the backdrop of a very difficult year for crypto investors, there is an evident need to provide more options to assist create substantial value – to make sure that investors may have as many options as possible, similar to what regular retail investors have.
We are achieving this through trade and borrowing. Investors have been forced to “put up and shut up” about how they may use cryptocurrencies to make material gains for far too long. They must exchange their cryptocurrencies for fiat currency in order to use it as collateral for significant living costs like a car purchase. But we contend that you ought to be able to mix and match. With security at its core and the ability to use your cryptocurrency effectively without losing your competitive edge, Trade & Borrow is the realization of our dream.
Crypto investors will be able to use their assets to acquire funding for real estate acquisitions now that Moon Mortgage has also made its primary mortgage product available for purchase on the market. The crypto mortgage product was created by the lending platform to function similarly to traditional mortgages, with the exception that additional security is provided by digital assets.
With a projected average close time of just 14 days, investors can get financing for real estate purchases in as low as six steps. Investors must have a minimum loan amount of $1 million in order to apply.
The cryptocurrency mortgage product has begun to be offered to homebuyers in Florida, Texas, and Colorado. Investors will also be able to use it to finance investment properties in the majority of US states.
The use case for cryptocurrencies must go beyond investment possibilities, according to Tristan Marino, co-founder and COO of Moon Mortgage. It must be about how an investor may use it to make money in the actual world. While full TradFi and crypto convergence is still a ways off, we are already striving to close the gap.
“How we achieve it is through our crypto mortgage product, which enables investors to easily, compliantly, and securely materialize their digital money into real estate investments. With the help of our Trade & Borrow offering, we hope to turn the cryptocurrency industry into a legitimate financial system.