SAN FRANCISCO AND MOUNTAIN VIEW, CA – (BUSINESS WIRE) – April 28, 2022 –
Propy, the leading blockchain-powered real estate transaction and display platform, and Abra, a leading digital asset wealth management platform, today announced a partnership that will enable Propy clients to purchase real estate by taking out a loan using their digital assets as collateral with a borrowed abra.
As physical wealth continues to migrate to digital assets, real estate agents, buyers, and sellers are becoming more familiar with the value of digital assets in real estate transactions. Propy simplifies the real estate transaction process by enabling buyers and sellers to transact entirely on the blockchain as a technical and legal framework for any purchase.
Almost immediately, Abra Borrow makes it easy to use cryptocurrencies as collateral for borrowing US dollars with flexible repayment terms and interest rates as low as 0%. Through its innovative partnership with Abra, Propy customers can now easily borrow against their crypto-property for a home loan using Abra Borrow. Meanwhile, Abra Borrow users can search for certified real estate agents from Propy to help them buy or sell real estate, including making mortgage payments.
“Having Propy become the first company to process a real estate transaction as an NFT, and the first real estate platform capable of completing the transaction from offer to closing, it was important for us to find a partner that could offer a highly reliable crypto-secured lending solution,” said Natalia Karayaneva, Founder and CEO of Propy. Propy, Abra’s impressive borrowing platform, track record, and customer first mindset makes it a natural fit as a partner.“We look forward to working with the Abra team to expand financing options for the property ecosystem.”
“While investment in digital assets has skyrocketed, most investors are unable to use their crypto holdings to directly fund the most important purchase of their life, the home. Our partnership with Propy solves this problem and promises to be a success,” said Bill Barhit, founder and CEO of Abra. 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.”
Propy, founded in Silicon Valley, aims to revolutionize the process of selling residential real estate. The company’s blockchain innovation eliminates inefficiencies, simplifies everything from offering to closure to address registration, securely records everything, and enables buyers and sellers to use traditional finance, cryptocurrencies, and NFTs. The company received the Technology Leadership Award from the World Economic Forum. Propy has also raised over $16 million in venture capital and is backed by the likes of Tim Draper and Michael Arrington. For more information, visit https://propy.com/.
About the lesson
Abra is a leading digital wealth management platform. The company’s vision is to help create an open global financial system that is accessible to all. Founded in 2014 by Bill Barhydt, hundreds of thousands of Abra users earn a high return on their crypto assets, trading over 100 different cryptocurrencies and borrowing dollars for crypto holdings. Abra has processed more than $1 billion in crypto-backed loans and made millions of dollars in interest payments to both individual and institutional customers. Investors in Abra include American Express, Blockchain Capital, Ignia, Digital Currency Group, HCM Capital and Pantera Capital, among others. For more information, visit www.abra.com.
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Contact: AbraCarissa Felger / Sam Cohen
Gasthalter & Co
Keyword: California United States North America
Industry Keyword: Data Management Residential Construction and Real Estate Banking Technical Construction and Property Other Professional Services Technology Software Mobile Internet / Wireless Finance
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Copyright Business Wire 2022.