APX Lending, a crypto-backed loan company, received exemptive relief from the Canadian Securities Administration (CSA) to offer crypto-backed loans without the need for traditional dealer registration or prospectus filings. This follows a collaborative effort with the Ontario Securities Commission. APX aims to enhance its offerings by including more digital assets and fiat currencies soon while expanding its services to the United States, Australia, and New Zealand, subject to regulatory approval. The firm's CEO, Andrei Poliakov, emphasized that engaging with regulators sets a new benchmark for compliance and security in crypto-backed lending, allowing borrowers to access liquidity while retaining ownership of their digital assets. APX loans feature a loan-to-value (LTV) ratio ranging from 20% to 60% and a liquidation mechanism activated at 90% LTV without corrective action from the borrower. APX Lending is also registered with FINTRAC, competing locally against companies like Ledn and Nexo. The regulatory landscape in Canada may shift under the newly elected Prime Minister Mark Carney, who has critiqued cryptocurrencies in the past, potentially impacting the future of the crypto industry in the country.

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