Hankey Group, through its Hankey Capital, Westlake Financial, and Midway subsidiaries, announced the launch of a Bitcoin Crypto Lending Program aimed at providing real estate and highline vehicle buyers with new financial opportunities using Bitcoin.

According to a news release, the Crypto Finance Program lets crypto holders use their Bitcoin as collateral to access full financing for real estate or exotic vehicles, eliminating the need for large cash down payments.

“On a standard real estate transaction, we typically require the buyer to provide 20% of the purchase price in cash and we would finance the remaining 80%. Through our new Crypto Finance program, we would provide the full financing,” Hankey Group chairman Don Hankey said in a news release.

The company highlighted an additional benefit of the lending program is that borrowers are not forced to sell Bitcoin and potentially trigger capital gains taxes. Instead, their cryptocurrency serves as collateral to secure up to 100% financing.

Hankey went on to mention other key benefits include retaining ownership of Bitcoin to share in its potential future appreciation, diversifying investments, and maintaining liquidity while securing financing for large purchases.

“As digital assets become a more permanent fixture in our financial system, we’re excited to offer innovative capital solutions to our borrowers,” Hankey Group chief investment officer Kelechi Ogbunamiri.

The Bitcoin Crypto Lending Program is now available for those interested in using their crypto holdings for real estate and auto financing.

For more details, you can listen to this podcast featuring Ogbunamiri and Winston & Strawn, which represented the Hankey Group in setting up the legal structure and documentation for the program.