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APX Lending introduced its 90/85 Standard for Bitcoin-backed loans, eliminating liquidation fees and selling only enough collateral to reset LTV to 85% from a
APX Lending, a Toronto-based digital-asset credit infrastructure company, announced its new 90/85 Standard for Bitcoin-backed loans, designed to reduce collateral loss during market volatility by implementing partial liquidations and eliminating liquidation fees [3]. This new model aims to preserve borrower collateral by selling only the necessary amount to return a loan to an 85% loan-to-value (LTV) ratio, rather than fully liquidating the position or returning it to its original LTV [3].
| At a glance | |
|---|---|
| New Standard | 90/85 LTV |
| Liquidation Fee | 0% [3] |
| Liquidation Trigger | 90% LTV [3] |
| Liquidation Reset | 85% LTV [3] |
Under APX Lending's new 90/85 Standard, borrowers receive notifications when their LTV reaches 80%, with alerts every six hours [3]. A partial liquidation is triggered if the LTV rises to 90% [3]. Instead of a full liquidation, APX sells only enough collateral to bring the loan's LTV back down to 85% [3]. The company has also eliminated all liquidation fees [3]. This contrasts with many crypto-backed lending models where reaching a liquidation threshold can result in most or all collateral being sold, often with additional fees [3]. For example, a borrower with $100,000 in collateral and a $90,000 loan could retain nearly 13 times more collateral under the 90/85 Standard compared to a full liquidation with a 5% fee [3].
APX Lending, founded in 2023 by the team behind Canada's Coinberry exchange, emphasizes safety, security, compliance, and transparency in centralized finance (CeFi) lending [1, 3]. The platform is registered with FINTRAC in Canada and FinCEN in the USA [1]. Collateral is held in segregated cold-storage wallets with BitGo, a U.S.-based regulated custodian, with up to $250 million in coverage, and is visible on-chain to borrowers [1, 2, 4]. APX states that borrower collateral is never re-invested or re-lent [1, 4]. The company offers direct-to-consumer Bitcoin-backed lending and a B2B Software-as-a-Service (SaaS) for banks [1].
APX Lending provides loans against Bitcoin (BTC) and Ethereum (ETH) collateral, with initial LTVs ranging from 20% to 60% [2, 4]. Minimum loan sizes are C$10,000 (or USDC 10,000) in Canada and USDC 25,000 in the United States, with no fixed maximum [2]. Interest rates in Canada start from 12.99% APR, with loan terms from 3 to 60 months [4]. The platform does not conduct credit checks, instead approving loans based on crypto collateral and LTV [2]. Loans are currently available to residents of the U.S. and Canada, with 90% of approved applicants funded within 24 hours [2]. APX Lending has partnered with Netcoins, a Canadian crypto exchange, to offer these services to its users [4].
The introduction of the 90/85 Standard represents an attempt to differentiate APX Lending's approach to risk management in crypto-backed loans, focusing on borrower collateral preservation during price declines.
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Users deposit cryptocurrency to earn interest as lenders, or they lock their digital assets as collateral to borrow funds without selling their holdings.
It is a decentralized financial service that operates across multiple blockchain networks, allowing users to lend and borrow assets on different chains to increase accessibility and liquidity.
Some platforms operate as decentralized protocols without credit checks, while others, such as Nexo, may obtain specific authorizations to offer regulated credit services within local consumer credit frameworks.
Primary risks include market volatility, the potential for collateral liquidation, and the fact that funds deposited on these platforms are typically not insured.