The Abra Borrow platform allows customers to use crypto as collateral to borrow US dollars with flexible repayment terms and interest rates as low as 0%. Propy uses NFTs to close the entire real estate deal online.
Abra Borrow users can seek Propy certified real estate agents to help them buy or sell property, including making down payments on mortgages.
In April 2022, Propy auctioned off a 70-year-old brick home in Florida for an equivalent of USD 654,310, in one of the first NFT house sold in the US. The blockchain startup used Ethereum for auction, where the winning bidder used the cryptocurrency Ether.
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