APX launches Bitcoin-backed revolving line of credit in Canada
What's the deal? APX LendingDealroom has a profile for this one. Try Dealroom → has launched a Line of Credit that lets clients borrow against Bitcoin and Ethereum through a five-year revolving facility. Borrowers can repay principal when they choose and redraw available credit as needs change. Interest accrues only on the amount drawn.
Why now? The Toronto fintech says demand drove the launch. "A revolving line of credit is something our clients have asked us for repeatedly," says founder and chief executive officer Andrei Poliakov.
What's the endgame? APX, launched in 2023, bills itself as Canada's first regulated digital-asset credit infrastructure company. The new product extends its lineup, which now spans fixed-term lending, revolving credit, and Lending-as-a-Service. It was founded by the team behind CoinberryDealroom has a profile for this one. Try Dealroom →, a licensed crypto exchange acquired by Vancouver's WonderFi.
How it works: Available credit changes dynamically with the market value of the collateral and the amount already drawn. APX operates within a regulated framework and offers institutional-grade custody and insurance, plus the ability to verify collateral on-chain at any time.
What could go wrong? Crypto collateral is volatile. Last month APX unveiled a new liquidation model designed to preserve borrower collateral while protecting the loan during market swings.
The signal: APX is betting that digital assets can plug into mainstream finance rather than sit apart from it. "Trust is what ultimately brings these two worlds together," Poliakov said.
Read more: fintech.ca
Image credit: Generated with Gemini
