APX Lending Introduces Five-Year Crypto Credit Facility

APX Lending has launched a new product that allows clients to borrow against their Bitcoin and Ethereum holdings. The five-year revolving line of credit is available for business financing, debt repayment, mortgages, and other expenses.

The company says its clients have previously used crypto-backed loans for various purposes. With the new facility, they can access liquidity without submitting a new loan application each time.

The interest rate ranges from 10.49% to 11.99%, depending on the outstanding balance. APX does not charge origination, prepayment or liquidation fees.