Propy partners with Abra to expand crypto-backed lending options to home buyers
Our partnership with one of the important players in the world of crypto finance is another milestone on our mission to bring innovation to the real estate space.
Propy and Abra are joining forces
Our CEO Natalia Karayaneva believes that access to DeFi and crypto mortgages is a “key component to making crypto and NFT property sales and purchases viable for a wider population.” And Abra, a leading digital asset wealth management platform, is a natural partner for us.
What does this mean for Propy Users’?
With Abra Borrow, Propy customers − prospective home buyers − will be able to buy real estate by securing a loan using their digital assets as collateral and borrow U.S. dollars with flexible repayment terms and interest rates as low as 0%. This, in effect, unlocks the power of crypto to directly fund a home.
What is Abra?
Abra is a leading digital asset management platform with a vision to create an easily – accessible and open global financial system. The company has processed over $ 1 billion in crypto-backed loans and has paid millions of dollars in interest payments to retail and institutional clients. Bill Barhydt, founder and CEO of Abra says that the new partnership will “improve lives by supercharging the real estate industry with more financial flexibility and by bringing crypto banking to the mainstream real estate market.”
The CEOs talk
“After Propy became the first company to process a real estate transaction as an NFT, and the first real estate platform able to complete a transaction from offer to close, it was important for us to find a partner who could deliver a highly reliable crypto-collateralized lending solution. Abra’s impressive borrowing platform, proven track record, and customer-first mindset make it a natural fit as a partner,” says Karayaneva. “We look forward to working with the Abra team to expand financing options for the real estate ecosystem.” she adds.
Bill Barhit, CEO of Abra, noted: “Our partnership with Propy solves this problem and promises to be a success. A major step in bridging the gap between crypto and real estate. Together with Propy, we aim to improve lives by supercharging the real estate industry with greater financial flexibility and by bringing crypto banking into the mainstream real estate market.”