Block Earner launches Australia's first Bitcoin-backed home loan using Fireblocks custody. Borrowers pledge BTC for up to 50% LTV, avoid CGT, but face volatility risk.
Australians can now use Bitcoin to buy a house. They pledge it as collateral while keeping exposure to the asset's upside.
Block Earner, an Australian fintech founded in 2021, rolled out what it calls the country's first Bitcoin-backed home loan. Borrowers use BTC as collateral for property deposits worth up to 50% of the property's value. Fireblocks, the institutional crypto infrastructure firm, provides the multi-party computation (MPC) wallet technology for custody.
A borrower locks up Bitcoin as collateral. Block Earner holds that collateral in Fireblocks' MPC wallets, which split private keys across multiple parties. The borrower gets a loan for a property deposit.
Block Earner explicitly commits to not rehypothecating the collateral. The company said it has recorded zero security incidents across its lending products, and loan sizes have been increasing.
Block Earner started with crypto-backed personal loans in December 2023, offering rates of 4.95% per annum for Ethereum-backed loans and 6.95% for BTC-backed loans. The home loan product launched on July 16, 2025.
By August 2025, Block Earner closed an $8 million Series A round at a $75 million valuation. The company said demand indications for its mortgage products landed between $400 million and $500 million.
In May 2026, Block Earner became the first crypto company to obtain an Australian Credit Licence from ASIC. The licence lets Block Earner originate regulated credit products directly.
For crypto holders, the product solves a problem: accessing value locked in Bitcoin without triggering a taxable event by selling. In Australia, capital gains tax applies to crypto disposals, so borrowing against holdings carries real financial advantages.
The risks are real. Bitcoin's price volatility means collateral values can swing dramatically. A sharp drawdown in BTC could trigger margin calls or forced liquidations. The 50% loan-to-value ratio provides a buffer. That cushion can evaporate quickly in a severe bear market.
There is also the question of scale. An $8 million raise is modest relative to the $400 million to $500 million in demand the company claims to see. Scaling a mortgage origination business requires significant capital and operational maturity. Block Earner is attempting to compress that timeline considerably.
The product launched July 16, 2025. Block Earner is accepting applications.
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