APX Lending Opens Waitlist for Canada's First Bitcoin-Backed Mortgages

Regulated digital-asset credit platform APX Lending opened a waitlist on Oct. 29 for Canada's first Bitcoin-backed mortgages, with an expected public launch in Q1 2027 ¹. The upcoming facility will allow Canadian property buyers to pledge $BTC as collateral rather than selling the underlying asset to finance down payments or home purchases ¹. At the time of writing, Bitcoin traded around $80,971.

Under the planned offering, APX intends to let borrowers maintain spot market exposure and bypass immediate capital gains tax triggers associated with liquidating digital assets ¹. Collateral will be stored in segregated BitGo Trust cold-storage accounts without rehypothecation, backed by insurance coverage reaching up to $250 million, according to the company ¹. The lender also operates an automated risk model called the 90/85 Standard, designed to liquidate only the fractional amount of collateral required to lower loan-to-value (LTV) ratios from 90% back to 85% during market downturns ¹.

Expanding Digital Asset Credit in Canada

The initiative comes as domestic crypto ownership rises, with a 2026 Ontario Securities Commission survey indicating that 25% of Canadians hold cryptocurrency, up from 10% in 2023 ¹. APX was the first digital-asset-backed lender authorized by Canadian securities regulators and maintains registrations with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as well as FinCEN in the United States ¹. Broader domestic policy is also formalizing digital finance, as Canada proposes stablecoin regulations to bring national oversight under Bank of Canada and related payment authorities.

While APX has not yet disclosed specific loan-to-value limits, borrowing rates, or borrower qualification guidelines, the firm said it will publish complete loan terms ahead of the Q1 2027 deployment ¹. The company noted that previous clients have used digital-asset credit to finance property projects and retire high-interest debt, pointing to institutional models in the US such as Milo, which has surpassed $100 million in crypto-backed mortgage originations ¹.