Strike launches Bitcoin mortgage service with minimum loan amount of $75,000

PANews reported on May 7th that according to The Block, Strike, a Bitcoin Lightning Network payment app founded by Jack Mallers, has officially launched a crypto lending service called "Strike Lending". The service is available for individual and business users, initially open in specific regions of the United States, with plans to expand globally. Users can obtain cash using Bitcoin as collateral without selling their holdings. The loan term is 12 months, with amounts ranging from $75,000 to $2 million, and an annual interest rate of at least 12%. There are no loan origination fees or prepayment penalties, and credit scores are not affected. Strike emphasizes that its loans are supported by vetted capital providers, with assets held in custody by partner institutions during the loan period, and the platform maintains legal responsibility for user assets.