Milo introduced digital asset-backed mortgages in the US. This is a new type of mortgage that is made up of digital assets such as cryptocurrency or tokens.
Recently, there have been many exciting cryptocurrency advancements in the United States. Milo has now introduced the first digital asset-backed mortgages in the United States.
Milo is a finance startup that develops its own technology from the ground up. In the United States, it has already supplied millions of dollars in mortgage loans. However, it now allows consumers to borrow money by using bitcoin as collateral.
Since last year, Milo has been developing this ground-breaking device and anticipates launching it in early 2022.
According to the official press release, this is the first time such a product has been made available on the mortgage market in the United States of America.
Crypto-mortgages of 30 years with low-interest rates will be available to customers who use their BTC to acquire real estate. Customers will retain ownership of pledged bitcoins, even if they are locked. Thanks to this new program, you can now get 100% financing without making a down payment in dollars. All of this will happen much more quickly than if you were to get a traditional loan.
The company operated as a licensed, verified, and insured direct lender for a long time. Additionally, it offers a foreigner-specific mortgage product. It has already initiated loan applications totaling millions of dollars, with candidates hailing from over 63 nations.
Milo’s headquarters are in Miami, the most digitally open city in the United States at the moment. Francis Suarez, Mayor of Los Angeles, stated:
Milo’s decision to include bitcoin mortgages in its financial flexibility is a major step forward for US dominance in the market. Miami needs companies like Milo that are open to new ideas to become the Capital Capitals.
Milo CEO and creator Josip Rupeny believe that the world is rapidly changing, especially regarding the way people earn and invest their cryptocurrency.
Customers want us to think of new ways to lend to millions of good people. There are innumerable tales of people buying real estate with bitcoin money only to see their value skyrocket.
Read Also: MicroStrategy’s BTC Accounting Practices Denied By The SEC
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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