Source: Cointelegraph Original: "{title}"

APX Lending is a cryptocurrency-backed lending company that has received an exemption license from the Canadian Securities Administrators (CSA), making APX the only crypto lending company in Canada to obtain an operating license.

A spokesperson for APX told Cointelegraph that the platform currently supports Bitcoin (BTC) and Ethereum (ETH) as collateral for its fiat-denominated loans, with plans to add more digital assets and fiat currencies in the future.

Currently, APX serves Canadian customers, with all loans denominated in Canadian dollars (CAD). Future expansion plans in the United States, Australia, and New Zealand are still subject to regulatory approval. APX Lending's founder and CEO, Andrei Poliakov, stated, "By collaborating with Canadian regulators and leading the industry, we have set a new benchmark for compliance and security in Canada, helping retail and institutional borrowers unlock liquidity while retaining ownership of their digital assets."

APX's loan-to-value (LTV) ratio ranges from 20% to 60%. If borrowers fail to add collateral or partially repay the loan when the LTV reaches the warning level of 80%, and do not take corrective action when the LTV reaches 90%, an automatic liquidation mechanism will be triggered.

Loan terms can range from three months to five years, highlighting the flexibility of crypto-backed loans compared to the rigid, high-cost, exclusionary, and restrictive loans in traditional financial systems.

Andrei Poliakov, founder and CEO of APX Lending, spoke at the 2024 Blockchain Futurists Conference. Source: Blockchain Futurists Conference

Changes in Canada's political landscape may pose challenges for cryptocurrency regulation.

Newly elected Canadian Prime Minister Mark Carney, a former central banker, has criticized Bitcoin's supply cap, calling the maximum supply of 21 million a "serious flaw."

During a speech at the Scottish Economics Conference held at the University of Edinburgh in March 2018, Carney stated, "Rebuilding a virtual global gold standard would be a crime of monetary amnesia."

Carney's hostile attitude towards Bitcoin and cryptocurrencies may complicate rational regulation in Canada and create uncertainty for the future of the Canadian crypto industry.

However, Carney has proposed in his 2025 campaign platform the goal of making Canada a leader in the global artificial intelligence and "digital industry" sectors, a goal articulated amid increasing geopolitical competition and trade tensions with the United States.

Related: California introduces "Bitcoin rights" in revised digital asset bill.

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