Galaxy Introduces Retail Crypto-Backed Credit Line with Competitive Rates
Galaxy has launched a new retail crypto-backed credit line product called the Crypto Portfolio Line of Credit (PLOC), allowing eligible clients on its GalaxyOne platform to borrow cash against Bitcoin, Ethereum, and Solana without selling their assets.
The product sets a variable annual percentage rate of 8.99% and a 50% origination loan-to-value ratio, meaning that a $100,000 portfolio can back about $50,000 in borrowing.
Eligible clients can pledge BTC, ETH, and SOL inside one revolving line instead of taking separate loans per asset, and pledged collateral stays put rather than getting rehypothecated.
GalaxyOne Lending LLC offers the line in 40 states, excluding California, Delaware, Idaho, Indiana, Minnesota, Mississippi, Missouri, Nevada, and South Dakota.