Australia's Block Earner has introduced the country's first Bitcoin-backed mortgage, allowing cryptocurrency holders to access the property market without selling their assets. This move follows a favorable regulatory ruling that determined Block Earner's crypto lending did not qualify as financial products under the Corporations Act, eliminating the need for a financial services license. Borrowers can secure cash loans of up to 50% of their property's value with Bitcoin as collateral, managed by the custody platform Fireblocks. This innovative model redefines creditworthiness assessment beyond traditional salary and superannuation criteria. Similar initiatives are also emerging in the US, where the Federal Housing Finance Agency is exploring the inclusion of crypto assets in mortgage underwriting. Both Australia and the US are grappling with significant housing affordability issues, with home prices vastly exceeding average incomes, leading to a rise in homelessness and a growing need for alternative financing solutions.

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