PANews reported on March 18 that according to CoinDesk, crypto wealth management agency Xapo Bank has launched a Bitcoin (BTC) mortgage loan of up to US$1 million, mainly for long-term holders. The loan funds can be used to buy a house, a car or other life needs.

The loan uses a 20%-40% loan-to-value ratio (LTV) to reduce liquidation risk, meaning that the BTC price must fall below $40,000 to trigger liquidation. The loan term can be 30, 90, 180 or 365 days, and there is no penalty for early repayment. Xapo also provides real-time loan health tracking to help borrowers monitor risks.