Lava Raises $200M for Bitcoin-Backed Line of Credit, Announces New Borrow Rates Starting at 5%

Bitcoin Magazine Lava Raises $200M for Bitcoin-Backed Line of Credit, Announces New Borrow Rates Starting at 5%

Lava, a global platform for bitcoin-backed loans, today announced a $200M funding round and the launch of a new product, a bitcoin line of credit (BLOC). The product offers similar functionality to a securities-backed loan or home equity line of credit, but allows users the ability to flexibly borrow using bitcoin as collateral without the monthly payments or term limits common in the bitcoin-backed loans market today.

According to a press release shared with Bitcoin Magazine, the $200M financing “includes a combination of venture and debt capital” and brings two new high-profile angels on board: Anthony Pompliano, Bitcoin investor and entrepreneur, and Eric Jackson, activist p