Block Earner, Ledn and now Nexo offer crypto-backed loans in Australia, Kraken and Coinbase currently don’t
Starting today, Nexo is offering two versions of a credit line for Australian users, one collateral-based and one income-based, with stricter checks, both regulated under an Australian Credit Licence. The collateral available is broad across many crypto assets.
Block Earner, an Australian company, offers BTC/ETH/XRP-backed loans locally.
Ledn also operates in Australia, though its product is positioned more toward business/investment borrowing than everyday personal use.
For comparison, Kraken Borrow explicitly excludes Australia (along with the US, UK, Canada, and a few other regions), and Coinbase’s equivalent loan product is currently limited to the US. So the two platforms most Australians already have accounts on don’t offer this locally.
Curious what people here would actually use a service like this for paying down debt, avoiding a taxable event, short-term cash flow, or something else.