Propy and Abra have partnered to enable Propy customers to buy real estate by securing a loan using their digital assets as collateral with Abra Borrow.
The Abra Borrow platform allows customers to use crypto as collateral to borrow US dollars with flexible repayment terms and interest rates as low as 0%. Propy uses NFTs to close the entire real estate deal online.
Abra Borrow users can seek Propy certified real estate agents to help them buy or sell property, including making down payments on mortgages.
“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,” said Natalia Karayaneva, founder and CEO of Propy. “We look forward to working with the Abra team to expand financing options for the real estate ecosystem.”
“While digital asset investment has skyrocketed, most investors are unable to use their cryptocurrency holdings to directly fund the most important purchase in their life, a home. Our partnership with Propy solves this and is a major step in bridging the gap between crypto and real estate,” said Bill Barhydt, founder and CEO of Abra. “Together with Propy, we aim to improve lives by supercharging the real estate industry with more financial flexibility and by bringing crypto banking to the mainstream real estate market.”
