Galaxy Unveils Crypto-Backed Credit Lines for BTC, ETH, and SOL
Galaxy has introduced retail crypto-backed credit lines for Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). Eligible clients on its GalaxyOne platform can now borrow cash against these assets without selling them. The product is called the Crypto Portfolio Line of Credit (PLOC) and allows users to pledge multiple coins inside one revolving line instead of taking a separate loan per asset.
The variable annual percentage rate for this service is 8.99%, with a 50% origination loan-to-value ratio. For example, if a user wants to borrow $100,000, they would need to have at least $200,000 worth of the pledged assets.