Homebuyers are increasingly wanting to use Bitcoin as collateral to borrow money when purchasing property.
The increase has come after Donald Trump was re-elected to the White House.
The US President-elect – who will be inaugurated on 20 January – is a backer of cryptocurrency.
READ MORE: ‘I’m the world’s youngest house flipper – I’m only 15 years old but have already made £350,000’
Trump, 78, has pledged that the US will lead the way in its innovation.
International mortgage broker Enness Global has noticed a dramatic tenfold surge in enquiries for Bitcoin-backed lending over the last three months.
The US election took place on 5 November.
Enness Global’s clients have made loan requests ranging from £1million to £50million secured against Bitcoin, plus Etherium and other top tier tokens.
It says it has always been at the forefront of lending solutions for high-net-worth individuals, staying ahead of the curve to meet evolving client demands.
A spokesperson said: “Leveraging relationships across both blockchain-based and traditional ‘real world lenders, Enness works with a comprehensive network that includes Swiss private banks, alternative finance lenders, private credit funds and international exchanges.
“While borrowing against Bitcoin at lower values can be relatively straightforward, securing higher loan amounts requires specialist advice and guidance.
“At this level, ensuring optimal lending terms, protecting the security of assets, managing margin calls, and navigating the potential use of underlying tokens during the loan term, are all critical considerations.
“Requiring specialism to create tailored solutions that address these complexities.”
Islay Robinson, CEO of Enness Global, told Absolutely Business: “Our expertise in bridging the gap between traditional finance and securities-backed lending, including crypto assets, has never been more critical.
“With cryptocurrency markets on the rise and new policies accelerating crypto innovation, decentralised currencies are becoming mainstream assets for the wealthy.
“As well as sourcing traditional forms of finance our clients are increasingly looking to leverage recent gains in their Bitcoin portfolios. As one of the world’s first Bitcoin loan brokers we’re proud to continue leading the way in providing the tailored solutions they need.”
The spokesperson added: The use of the loans ranges from buying real estate, reinvesting in digital assets right through to clearing tax bills incurred from trading assets.
“Enness has also seen enquiries influenced by advancements in artificial intelligence, including engagement via tools like ChatGPT, which are enhancing accessibility and fuelling innovation across the financial services landscape.
“With a reputation for discretion, speed and hyper-personalisation Enness continues to attract international clients seeking innovative strategies to unlock the full value of their wealth, including their cryptocurrency holdings.”
READ MORE: British couple make £20,000 a month selling second-hand clothes online
