"The loans carry a 9.5% APR, with a minimum borrowing amount of $100 CAD and a maximum of $50,000 CAD. Shakepay has confirmed that there are no origination fees or early repayment penalties, and funds are made available within minutes of loan approval, directly deposited into the user's Shakepay account or linked bank account."
"The platform actively monitors loan-to-value ratios in real time, issuing margin call notices at 80% LTV and triggering automatic liquidation at 90% LTV to cover outstanding balances. A 3% liquidation processing fee applies in such cases, ensuring that the loan remains secure."
Shakepay introduced bitcoin-backed loans on April 21, 2026, becoming the first Canadian crypto platform to offer this service. Loans have a 9.5% APR, a maximum limit of $50,000 CAD, and are supported by a 3-year exemptive relief from Quebec's AMF. Borrowers can access fiat currency without selling their bitcoin, avoiding taxable events. The platform ensures collateral is held securely, with real-time monitoring of loan-to-value ratios and specific protocols for margin calls and liquidations. The feature is being rolled out gradually, with expectations for higher loan limits in the future.
Read at news.bitcoin.com
Unable to calculate read time
Collection
[
|
...
]