There is finally a light at the end of the tunnel for crypto as Lending platform Moon Mortgages raises millions in their seed funds. The crypto lending company recently raised $3.5 million in a seed round to finance the creation of Moon Mortgage lending products.
The new product created by Moon Mortgage will help digital asset investors materialize their crypto holdings into real estate. The outcome would be able to carry out this act by taking investors’ digital assets as collateral and, in turn, providing 100% of the financing for the owner-occupied and investment properties.
The project Crypto Mortgage will be launched soon and then open to investors in several states across the US for investment purposes.
Crypto assets for Moon Mortgage are stored with Anchorage Digital, the first US federally chartered cryptocurrency bank, and all the assets are stored with the highest possible protection standards.
Moon Mortgage hopes to bridge the gap between allowing investors to use their crypto to invest in real-world assets and still benefit from those investments in the long term.
The chance to raise a $3.5 million investment is one colossal feat, especially with the bearish season crypto is currently facing, and it goes to show that Moon Mortgage product, Crypto Mortgage is a clever invention with a great prospect.
In this bearish season, a crypto platform being able to raise that amount of money, especially at the same time as the recent happenings of another crypto platform being unable to pay almost the same amount in debt, Moon Mortgage has excellent potential, and it spells good news for the crypto industry.
The Seed Funds
The blockchain industry has received hit after hit of crashes, and the good news is welcome whenever it happens. The seed round of Moon Mortgage was led by venture capital firms, CoinFund and Cadenza ventures, with each firm contributing to one-third of the final amount and the remainder coming from other investors.
Even with the bearish trend, the Mortgage company seems to be standing firm, and it says most of the money raised in the seed round would be put toward the growth of crypto mortgages.
While Crypto Mortgage platforms might be an innovation, they are no less inventive and essential to the ecosystem as they’ll allow investors to take loans backed by their own crypto assets. This would help them avoid selling cryptocurrency assets to finance their down payments and any tax payments they may incur.
They would also benefit from the interests made from using their crypto as collateral.
Moon Mortgage is a company founded in 2022 and is one of the many platforms responsible for providing crypto-backed mortgages to people in the US.
What This Does For The Bearish Market Trend
Any source of positive news is a win in the crypto market these days, and the success of the seed funding for Moon Mortgage helps hit the reality of there being a possibility for more growth and potential achievements in the blockchain industry, even with the recent downtime.
There are also more possibilities for innovative creations like Crypto Mortgage to thrive even now, as there is a chance of them being able to raise the seed funds they need if their innovation brings change to the investment and cryptocurrency market.
The Crypto Industry
Inflation reports recently spiked a burst of hope for the crypto space. With the news of crypto mortgages, more chances are popping up daily for things to change and for this downtime to ease up. Although nothing is certain, the doors to good tidings are undoubtedly open.
The crypto marketplace is volatile, so there will always be trends of good days and bad days, but with news like raising funds for moon mortgage, there is hope for more days of success for the crypto ecosystem.
Crypto enthusiasts can only wait with bated breaths and hope for more good news like this one. It may motivate developers who gave up due to seeing the bearish trend to try their hands again at creating something that could also make an impact, like Moon Mortgage and crypto mortgage, while also having hope that their innovations would receive as much support from firms and investors.