Hankey Group Launches Bitcoin Crypto Lending Program

Los Angeles-based Hankey Group has announced via press release the launch of a pioneering Bitcoin Crypto Lending Program aimed at providing real estate and highline vehicle buyers with new financial opportunities using Bitcoin. The program is available via Hankey Group’s Hankey Capital, Westlake Financial and Midway subsidiaries.

The Crypto Finance Program enables crypto holders to use their Bitcoin as collateral to access full financing for real estate or exotic vehicles, eliminating the need for large cash down payments.

“On a standard real estate transaction, we typically require the buyer to provide 20% of the purchase price in cash, and we would finance the remaining 80%. Through our new Crypto Finance program, we would provide the full financing,” said Don Hankey, chairman of Hankey Group.

An additional benefit of the lending program is that borrowers are not forced to sell Bitcoin and potentially trigger capital gains taxes. Instead, their cryptocurrency serves as collateral to secure up to 100% financing. Key benefits include retaining ownership of Bitcoin to share in its potential future appreciation, diversifying investments and maintaining liquidity while securing financing for large purchases.

“As digital assets become a more permanent fixture in our financial system, we’re excited to offer innovative capital solutions to our borrowers,” said Kelechi Ogbunamiri, CIO of Hankey Group.

The Bitcoin Crypto Lending Program is now available for those interested in using their crypto holdings for real estate and auto loans.

Information for this article was sourced from BusinessWire.