The Cayman Islands has long been an idyllic beach getaway for tourists, but the archipelago could soon welcome Bitcoin holders as new residents through BTC-backed loans used to invest in real estate.as a virtual assets service provider , is providing an avenue for Bitcoin holders to use their BTC as collateral for loans to invest in real estate on the islands.
According to Reeds, Parallel handles conversion to fiat currency if either a buyer or seller prefers the option over a cryptocurrency payment. Meanwhile, Ledn’s portion of any transaction will be fiat-free, paid in either BTC or United States dollar-backed stablecoins. “Then if or when BTC goes up, your loan-to-value ratio goes down, so your house is appreciating, and so is the asset you’re borrowing against.”