PANews reported on April 2 that according to Cointelegraph, cryptocurrency mortgage company APX Lending has obtained an exemption license from the Canadian Securities Administrators (CSA) to provide cryptocurrency mortgages without the need to register with traditional dealers or submit a prospectus. A spokesperson for APX said: "Over the past two years, APX has worked with the Ontario Securities Commission (OSC) to develop a regulatory framework to facilitate this business, as there was no such framework in Canada before. This exemption is only for APX and does not set a precedent for other companies."
The platform currently supports loans in Canadian or U.S. dollars with Bitcoin and Ethereum as collateral. APX plans to add more digital assets and fiat currency options in the near future. The company claims to be expanding to the United States and plans to expand to Australia and New Zealand after obtaining regulatory approval.
