PANews reported on April 11 that according to CoinDesk, cryptocurrency mortgage lender APX Lending has obtained a $20 million flexible credit line from private credit investment company Cypress Hills. A flexible credit line is a clause that allows borrowers to increase their borrowing amount without having to renegotiate the entire agreement. The company plans to use this line to accelerate its expansion in Canada to meet the growing demand for cryptocurrency mortgages.
According to reports, Toronto-based APX provides loans collateralized by digital assets. Earlier this month, APX received an exemption from the Canadian Securities Administrators (CSA) from certain registration and prospectus requirements, which the company said "will address the concerns of retail investors."
