Abra Borrow

Abra—Propy Partnership Overview

In April 2022, Cointelegraph reported Abra’s partnership with blockchain real estate platform Propy, which helps home buyers get easier access to capital.

Abra and Propy Partnership — Purchase A Home with Crypto Collateral  

Propy is a platform that enables real estate agents, buyers, and sellers to set up faster, simpler, and safer transactions. Abra is a platform that enables users to trade, generate yield on, and borrow cryptocurrency. 

As a result of this partnership, the process of obtaining a loan that can help pay for a home is more fair, flexible, and efficient. Abra Borrow, Abra’s flagship cryptocurrency loan product, now allows customers to use crypto as collateral to access capital that can be used for real estate purchases. This is not a mortgage lending product. The house is not collateral for the loan, the crypto is! 

The Abra-Propy partnership is a major step in bridging the gap between crypto and real estate. Now, long-term crypto holders can leverage their existing cryptocurrency balances to purchase homes without having to sell their digital assets.

5 Ways Blockchain & Crypto Streamline Home Purchases

  1. Most banks won’t recognize crypto when determining whether someone qualifies for a mortgage. Crypto loans help to integrate digital assets into the real-world economy.

  2. Crypto loans make it easier to process credit transactions in countries where banking infrastructure, such as credit scoring systems, doesn’t exist. Unlike banks, blockchains process transactions 24/7, 365, including weekends and holidays.

  3. Using universally-accepted currencies — cryptocurrencies — creates a more streamlined experience for real estate transactions. This improves cross-border payments and reduces foreign exchange (forex) fees. For example, Abra Borrow users can use BTC or ETH as loan collateral and receive loan payouts in stablecoins (USDC, TUSD, or USDP). Users then have the option to convert those funds to fiat and transfer them to their bank accounts.

  4. Blockchain is the ultimate technology for financial transaction transparency. Data secured by a blockchain can’t be altered or removed. Multiple agents/brokerages can use a blockchain as the sole source of truth for data records (i.e., timestamps of document signatures and transactional details).

  5. Smart contracts provide an automated system for real estate transactions, which removes the requirement to have a trusted third party (i.e. a traditional bank) involved in the loan approval process.

Get a Crypto Loan through Abra Borrow

Download the Abra app today and apply for a crypto loan with Abra Borrow. We offer crypto loans starting as low as 0% APR and speedy loan approval with no credit history checks.

If you need help applying for a crypto loan, check out our Abra Borrow support guide for step-by-step instructions.

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DISCLAIMER: THIS CONTENT IS FOR GENERAL PURPOSES ONLY. NONE OF THE INFORMATION PROVIDED CONTAINS AND IS INTENDED AS LEGAL AND/OR INVESTMENT ADVICE WITH RESPECT TO THE TOPICS DISCUSSED, INCLUDING, BUT NOT LIMITED TO, LEGALITY OF AND INVESTMENT IN DIGITAL ASSETS.