APX Lending Secures $20 Million Accordion Facility to Expand in Canada
APX Lending, a crypto-backed loan provider, has secured a $20 million accordion facility from Cypress Hills, a private credit investment firm. This facility allows APX to increase borrowing without renegotiating the agreement.
Key points include:
- APX plans to use the funding to expand in Canada due to rising demand for crypto-backed loans.
- The company received exemptive relief from the Canadian Securities Administrators, easing certain regulatory requirements.
- This exemption aims to promote innovative businesses within Canada.
- Digital asset lending has seen challenges, but a more favorable U.S. regulatory environment may enhance market conditions.
- Predictions suggest that friendlier regulations could lead to lower rates globally.