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Home lending is now officially happening on the blockchain.
What’s happening:
- Crypto startup Homium has raised $10M USD in a new Series A financing round
- The round included participation from Sorenson Impact Group and Blizzard, which is the ecosystem fund of Avalanche
The big idea:
- Homium has built digital asset technology that allows residential real estate lending to happen on the blockchain
- Lenders are able to secure their ownership of a property on Homium’s platform and also participate in the future price appreciation of the real estate
- Once loans have been funded, Homium issues a token that tracks the price appreciation of a shared pool of real estate loans
- The aim is to unlock value that homeowners have trapped in their personal residence and decentralize lending capabilities to the larger crypto community
Going deeper:
- Homium has officially launched real estate lending in the state of Colorado and plans to launch in multiple other states in the near future
- Homium is building on top of popular decentralized finance layer one blockchain Avalanche
The intrigue:
- Homium also has publicly announced their plans to offer institutional investors access to lending pools secured by residential homes
