In a significant move within the fintech sector, APX Lending has announced its expansion into the United States, making its services available to commercial borrowers in 30 states. The announcement was made by CEO Andrei Poliakov at the Blockchain Futurist Conference 2024 held in Toronto.
“This strategic move targets the $4 billion U.S. crypto-backed lending market,” explained Poliakov. APX Lending is set to offer loans ranging from $1,000 to $10 million, with plans to introduce retail lending in the near future. As the company ventures into this competitive landscape, it remains steadfast in upholding its commitment to security and compliance.
In terms of security measures, APX Lending ensures that collateral is kept in segregated, insured cold storage wallets, thus guaranteeing visibility for borrowers throughout the term of their loans. “Our technology and compliance expertise make us uniquely positioned to offer a white label solution that is both robust and adaptable,” Poliakov stated, emphasizing the vital role of security in their operational model.
Alongside this expansion, APX Lending unveiled its White Label Solution tailored for financial institutions such as banks, credit unions, and lending companies. This fully managed platform allows these institutions to implement their own branded crypto-backed lending services with ease and efficiency. “We are excited to collaborate with financial institutions worldwide, helping them to seamlessly enter the crypto-backed lending space with confidence and security,” Poliakov added.
The White Label Solution is built on proprietary technology that offers high availability, customizable branding, and advanced API integration, promoting hassle-free adoption by users. Among its key features are stringent security protocols like role-based access control and Web Application and API Protection (WAAP), ensuring that customers receive robust and secure service.
With these two significant offerings, APX Lending is solidifying its position as a key player in the global crypto-backed lending sector. “As we continue to innovate and expand in Canada and the US, our focus remains on delivering cutting-edge crypto-backed lending solutions with the highest standards of security and compliance,” said Poliakov.
The company, which is registered with both FINTRAC and FinCEN, aims to provide secure Bitcoin and Ethereum-backed loans to both individuals and institutional clients across North America. APX Lending’s emphasis on regulatory compliance and security has made it a reliable partner for a diverse clientele in the digital asset lending arena.
With a robust infrastructure now in place for its U.S. operations and a White Label Solution that empowers financial institutions, APX Lending is poised to make a substantial impact on the crypto-backed lending market. As the company plans for retail lending in the future, developments will be closely watched as they could reshape consumer access to crypto-backed financial products.