Moon Mortgage, a cryptocurrency lending platform, has raised a $3.5 million seed round. The money will be used to finance Moon’s CryptoMortgage mortgage financing product.
Role of CryptoMortgage
Investors in digital assets will be able to realize their crypto holdings in real estate thanks to Moon Mortgage’s CryptoMortgage offering. In order to accomplish this, Moon Mortgage uses the investor’s digital assets as security before offering 100% financing for both owner-occupied homes and investment properties. The CryptoMortgage from Moon Mortgage will soon be available to homebuyers in Texas, Florida, and Colorado, as well as investors in the majority of States in the U.S. for investment properties. For the comfort of our clients, Moon Mortgage partners with a custodian who is a leader in the field.
Aaron Nevin, Co-founder and CEO of Moon Mortgage said: “Many investors have been able to make impressive gains by investing in crypto — but you still can’t use it to buy a house., The convergence of TradFi and crypto is still a long way off, so we want to bridge that gap now and allow investors to not just be able to use their crypto to invest in real-world assets, but to also be able to continue benefiting from their crypto investments in the long term. Our $3.5 million investment — an impressive feat given the bearish outlook still given on crypto — will go a long way to making that vision a reality, as we look to launch our CryptoMortgage product this year.”
The crypto assets of Moon Mortgage are kept with cryptocurrency custodial company Anchorage Digital, a U.S. federally regulated crypto bank.
