AQRU plc (AQSE: AQRU) has announced a partnership with Blimp Technologies (Blimp Homes) to launch a crypto mortgage platform titled ByBrix.
AQRU believes there is a sufficient market for crypto back home loans. Noting there are around 147K wallets holding $300K or more of Bitcoin, AQRU and Blimp believes this is an opportunity to manage crypto backed mortgages.
ByBrix will be managed by former VP of Business Development att Blimp Homes, Troy Huerta who is now CEO of the new firm.
AQRU states that it will use its operational skills and experience in Fintech and DeFi to support ByBrix’s growth.
Blimp Homes, currently in AQRU’s portfolio, is a home search and transaction collaboration platform that rewards users for browsing homes and connects homebuyers, sellers, and real estate professionals.
Philip Blows, CEO of AQRU, said they are bridging the gap between decentralized and traditional finance by enabling people to use their cryptocurrency to purchase property.
“We are thrilled to be developing offerings that not only enable investors to take advantage of all the opportunities available in decentralised finance, but that can also strengthen our presence in the DeFi sector and deliver long-term value for our shareholders.”
Matt Shaw, CEO of Blimp Homes, said there is a desperate need for innovation in the home buying sector:
“By launching ByBrix in partnership with AQRU, we are combining our expertise in real estate and blockchain technology with AQRU’s significant experience in Fintech and decentralised finance to offer a feasible solution to people who want to buy property using their cryptocurrency. We are delighted to be taking this important step in our mission to democratise and streamline the real estate market and look forward to seeing ByBrix grow.”
AQRU is an incubator focused on DeFi, aiming to provide a more efficient and secure way of providing financial services. Accru Finance Ltd. has also launched a yield-as-a-Service offering for crypto.
AQRU is a micro-cap with a current valuation of around £16 million.
