PANews reported on April 11 that according to CoinDesk, crypto lending institution APX Lending has received a $20 million flexible credit line from private credit investment firm Cypress Hills. A flexible credit line is a term that allows borrowers to increase their borrowing amount without renegotiating the entire agreement. The company plans to use this credit line to accelerate its expansion in Canada to meet the growing demand for cryptocurrency-backed loans.
According to the introduction, Toronto-based APX provides loans using digital assets as collateral. Earlier this month, APX received an exemption from the Canadian Securities Administrators (CSA) from certain registration and prospectus requirements, with the company stating that this "will address retail investors' concerns".
