Dear forum,
I’ve came across this company many days ago, https://www.milo.io
Milo is licensed credit lender in many American states and they offer crypto mortgages (and other lending products, but the crypto mortgage is the core business)
What they do is use your crypto as 100% collateral of your mortgage, so you don’t have to sell your crypto and pay taxes.
So the guarantee is the crypto held and also the asset.
They borrow up to 5 million and rates from 8.95%, max. 30 year mortgage. Also, the crypto accepted is BTC, ETH and stablecoins.
The custody of the collateral is in a cold storage on Bitgo Trust.
I’ve thougt at the beginning that what they’ve do was to recieve the crypto and send it with fiat to the customers for the purchase of the asset, and collect on the interest’s.
But after reading, if Milo puts the collateral into Bitgo, they can’t move the crypto. So the question is that,
¿do they structure a loan maybe at 2-3% with the collateral of their clients and after that, send the mortgage money to their customers for the purchase and collect the 8.95% and live on the difference?
¿Or do they put the money themselves from their pockets and collect the full 8.95%, because they can’t structure any loan at low rates of their client’s money?
¿If they loan the money, at what platform do you think guys they do it, I mean, whats crypto platform and trustable give’s you a low rate loan and custody of the money?
¿Why do you thinks they are not more companies like Milo?, because thet are 3 in the usa but non in EU/ ASIA/ etc
Thanks in advance
I’ve came across this company many days ago, https://www.milo.io
Milo is licensed credit lender in many American states and they offer crypto mortgages (and other lending products, but the crypto mortgage is the core business)
What they do is use your crypto as 100% collateral of your mortgage, so you don’t have to sell your crypto and pay taxes.
So the guarantee is the crypto held and also the asset.
They borrow up to 5 million and rates from 8.95%, max. 30 year mortgage. Also, the crypto accepted is BTC, ETH and stablecoins.
The custody of the collateral is in a cold storage on Bitgo Trust.
I’ve thougt at the beginning that what they’ve do was to recieve the crypto and send it with fiat to the customers for the purchase of the asset, and collect on the interest’s.
But after reading, if Milo puts the collateral into Bitgo, they can’t move the crypto. So the question is that,
¿do they structure a loan maybe at 2-3% with the collateral of their clients and after that, send the mortgage money to their customers for the purchase and collect the 8.95% and live on the difference?
¿Or do they put the money themselves from their pockets and collect the full 8.95%, because they can’t structure any loan at low rates of their client’s money?
¿If they loan the money, at what platform do you think guys they do it, I mean, whats crypto platform and trustable give’s you a low rate loan and custody of the money?
¿Why do you thinks they are not more companies like Milo?, because thet are 3 in the usa but non in EU/ ASIA/ etc
Thanks in advance
