APX Lending
APX Lending is a Toronto-based, CSA-regulated crypto-backed lending platform offering Bitcoin, Ethereum, and USDC-collateralized loans to retail borrowers, high-net-worth individuals, and miners across Canada and the US, with white-label infrastructure for institutional partners globally.
- Company typePrivate
- Founded2022
- HeadquartersToronto, Canada
- Headcount1–10
- GTM typeB2B and B2C
- OfferingServices
What APX Lending does
APX Lending is a Toronto-headquartered, CSA-regulated crypto-backed lending platform that issues loans collateralized by Bitcoin, Ethereum, and (as of March 2026) USDC. Founded in 2022 by Andrei Poliakov, co-founder of Coinberry, the company targets three customer segments: retail borrowers, high-net-worth individuals and Bitcoin miners seeking tax-efficient liquidity without selling their crypto holdings, and institutional partners that license APX's infrastructure under their own brand via a White-Label / Lending-as-a-Service offering. The platform operates in Canada and the US, with active white-label rollouts in Europe and pipeline activity in Canada and Australia.
The underlying architecture is built around a bankruptcy-remote Special Purpose Vehicle (SPV) structure, where each borrower enters into a loan agreement with a dedicated SPV (e.g., APX Lending I Inc. or APX Lending II Inc.) rather than the parent entity. Borrower collateral is held in segregated, insured cold-storage wallets with BitGo Trust ($250M coverage) and Fireblocks infrastructure, with first-priority perfected security interests under Ontario PPSA and US UCC frameworks. APX enforces a no-rehypothecation policy as a regulatory condition, allows 24/7 on-chain collateral verification, applies a 90% liquidation threshold, and operates under SOC 2 Type II compliance alongside FINTRAC and FinCEN registrations. The April 2025 CSA Exemptive Relief (expanded March 2026 for USDC) makes APX the first and only CSA-approved crypto-backed lender in Canada.
APX generates revenue primarily through interest income on its crypto-collateralized loan book (fixed APR starting at 9.99%, terms 3-60 months, LTV 20-60%, no origination or management fees) and, on a smaller scale, through white-label licensing/fees from institutional partners deploying the platform under their own brand. Distribution combines a self-serve digital application, direct sales for HNW and institutional liquidity (seven-figure ticket sizes), and channel partnerships with regulated exchanges, banks, and fintechs. To date, APX reports zero borrower losses since launch and 90% of approved applicants funded within 24 hours.
APX Lending firmographics
Firmographics- Name
- APX Lending
- Legal name
- APX Inc.
- Website
- https://apxlending.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- APX Lending is a Toronto-based, CSA-regulated crypto-backed lending platform offering Bitcoin, Ethereum, and USDC-collateralized loans to retail borrowers, high-net-worth individuals, and miners across Canada and the US, with white-label infrastructure for institutional partners globally.
- Ownership category
- akta.pro rank
APX Lending industry classification
Industry- Product category
- Crypto-Backed Lending Services
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Crypto-Backed Consumer Loans (Secured) (FSADAFAG)
- akta.pro secondary industries
- Institutional / OTC Crypto Credit & Bilateral Lending (FSADAFAD), Embedded Lending & Credit (POS, Working Capital, Credit Lines) (FSAGALAD)
Keywords
Where APX Lending is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
APX Lending business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Crypto-Backed Lending (Interest Income): APX Lending issues loans against Bitcoin and Ethereum collateral, charging borrowers a fixed APR (starting at 9.99%). Revenue is generated from the interest rate spread between borrowing costs and lending rates. No origination fees or management fees are charged (APR = the rate).
- White-Label / Lending-as-a-Service: APX provides its compliance, custody, and credit infrastructure via API or hosted UI to institutional partners (exchanges, banks, fintechs) who want to offer crypto-backed lending under their own brand. Revenue model likely involves licensing fees or revenue sharing.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Standard Bitcoin/Ethereum-Backed Loan: APR starting at 9.99% |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels5 records
APX Lending product offering
Product offeringCore offering
APX Lending is the first CSA-approved crypto-backed lending platform in Canada, issuing fixed-rate loans secured by Bitcoin, Ethereum, and USDC collateral held in segregated, bankruptcy-remote Special Purpose Vehicles with BitGo cold-storage custody. The company serves retail borrowers and high-net-worth individuals directly through a self-serve online application, and provides its regulated lending infrastructure as a white-label platform to exchanges, banks, and fintechs under their own brand.
Product overview
APX Lending is a compliant crypto-backed lending platform offering a unified product portfolio comprising Personal Loans (retail BTC/ETH-backed loans), Private Client Lending (institutional-grade lending for high-net-worth clients), White Label Platform (API/hosted-UI infrastructure for partners to deploy crypto lending), and Bitcoin Miner Financing (specialized lending for mining operations). All products are backed by the same regulatory approvals (CSA exemptive relief), security infrastructure (BitGo/Fireblocks custody with SOC 2 compliance), and operational framework (no credit checks, fixed rates, on-chain collateral verification). The platform is the first and only CSA-authorized crypto-backed lender in Canada, operating in both Canada and the US.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Loans (Bitcoin/Ethereum-Backed) Self-serve crypto-backed loans for retail borrowers in Canada and the US, secured by Bitcoin or Ethereum collateral. Fixed APR starting at 9.99% for the life of the loan, 20%-60% LTV, terms of 3-60 months, no credit checks, no origination or management fees. Disbursed in CAD or USDC in Canada and USDC in the US, with minimum loans of C$10,000 / USDC 10,000 in Canada and USDC 25,000 in the US.
- Private Client Lending Institutional-grade, relationship-based crypto-backed lending service for high-net-worth individuals with seven-figure liquidity needs. Features CSA-compliant, fixed-rate loans, segregated cold-storage collateral at BitGo, full on-chain collateral visibility, and a 90% liquidation threshold.
- White Label Platform (Lending-as-a-Service) API and hosted-UI white-label solution that enables financial institutions, exchanges, banks, and fintechs to offer crypto-backed lending to their own customers under their own brand. APX manages the custody (BitGo), compliance (FINTRAC, FinCEN, CSA), and credit infrastructure behind the scenes.
- Bitcoin Miner Financing Specialized crypto-backed financing for Bitcoin mining operators, offering higher LTV and lower liquidation risk than competitors. Provides operating capital for equipment, electricity, and expansion without forcing miners to sell their mined BTC.
- USDC Loans (Nationwide Canada) USDC stablecoin-backed loans for Canadian borrowers nationwide, enabled by updated Ontario Securities Commission exemptive relief. Extends APX's fixed-rate, no-credit-check, segregated-custody lending model to the USDC stablecoin as collateral, on the same platform and compliance framework as its BTC/ETH loans.
Quantifiable outcome
- 90% of approved applicants funded within 24 hours
- +3 more outcomes
Companies that use APX Lending
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
APX Lending technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature5 records
APX Lending partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered strategic and core.
- NetcoinsstrategicAPX Lending partnered with Netcoins (a BIGG Digital Assets subsidiary) to expand access to compliant crypto-backed lending in Canada and the US throughout 2025. Netcoins is a regulated crypto trading platform enabling broader market access for APX's lending products.
- BitGocoreBitGo provides regulated cold storage custody for all borrower collateral. APX Lending holds collateral in segregated, insured cold storage wallets with BitGo Trust (up to $250M coverage). Each borrower has a dedicated wallet visible on-chain 24/7.
- FireblockscoreFireblocks provides institutional-grade blockchain infrastructure and custody technology as part of APX Lending's operational technology stack.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
APX Lending competitors and assessment
Company assessmentRegional players
- WonderFi: WonderFi (TSX: WNDR) is a Canadian-regulated crypto platform (parent of Coinberry, Bitbuy) offering trading, staking, and DeFi access. It is comparable as a regulated Canadian crypto financial services peer and acquirer of the founder's prior company, though it does not focus on crypto-backed lending.
- Netcoins: Netcoins is a Canadian-regulated crypto trading platform owned by BIGG Digital Assets (a strategic investor in APX). It is a GTM and distribution partner that brings APX's lending products to its own user base, but it does not directly compete in lending.
Direct peers
- Aave: Aave is the largest decentralized crypto lending protocol, enabling crypto-backed loans via smart contracts. It competes with APX on the same core product (crypto-collateralized borrowing) via a fundamentally different, non-custodial architecture that appeals to more crypto-native borrowers.
- Matrixport: Matrixport is an institutional crypto financial services platform offering crypto lending, structured products, and trading. It is comparable to APX's institutional and miner financing segments, serving sophisticated borrowers with larger ticket sizes.
- Compound: Compound is a leading DeFi lending protocol offering algorithmic, over-collateralized crypto loans. It is comparable to APX as an alternative crypto-backed lending venue, competing on accessibility and rates for crypto-native borrowers comfortable with self-custody.
- Nexo: Nexo is a global centralized crypto lender offering crypto-backed loans, credit lines, and yield products across multiple jurisdictions. It directly competes with APX in the crypto-backed consumer and HNW lending category, though Nexo operates at significantly larger scale globally.
- SALT Lending: SALT Lending is a crypto-backed lending platform offering Bitcoin and Ethereum-collateralized loans. It directly competes with APX in the retail and HNW crypto lending category, though with a different geographic footprint and operational history.
- Ledn: Ledn is a Cayman/Toronto-based crypto-backed lending platform offering Bitcoin and USDC-backed loans to retail and HNW borrowers. It is APX's most direct competitor in the regulated North American crypto lending market, with comparable products and target customers.
Broad incumbents
- Coinbase: Coinbase is a publicly listed US crypto exchange with growing lending and borrowing products. While not focused exclusively on crypto-backed lending, it represents a broad incumbent that could expand into APX's segment with regulatory legitimacy and deep liquidity.
- Galaxy Digital: Galaxy Digital is a diversified institutional crypto financial services firm offering trading, lending, asset management, and mining financing. It is comparable to APX's institutional and miner financing segments, but as a much larger and broader incumbent.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
APX Lending social profiles
Digital presenceAPX Lending compliance and trust
Trust signalCompliance4 records
APX Lending financial estimates
Financial estimateRevenue estimate
Valuation estimate
APX Lending leadership team
Management profileNumber of profiles
Profiles1 record
APX Lending subsidiaries and ownership
Company hierarchySubsidiaries3 records
APX Lending funding detail
Funding detailFunding overview
Funding rounds3 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
APX Lending M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about APX Lending
What does APX Lending do?
APX Lending is the first CSA-approved crypto-backed lending platform in Canada, issuing fixed-rate loans secured by Bitcoin, Ethereum, and USDC collateral held in segregated, bankruptcy-remote Special Purpose Vehicles with BitGo cold-storage custody. The company serves retail borrowers and high-net-worth individuals directly through a self-serve online application, and provides its regulated lending infrastructure as a white-label platform to exchanges, banks, and fintechs under their own brand.
Is APX Lending a public or private company?
APX Lending is a private company. It is classified as venture growth investor backed and is currently operating.
When was APX Lending founded?
APX Lending was founded in 2022. It employs 1 to 10 people.
Where is APX Lending based?
APX Lending is headquartered in Toronto, Canada, in the North America region.
How does APX Lending make money?
Two revenue lines are on record. Crypto-Backed Lending (Interest Income) is the primary driver. The others are white-Label / Lending-as-a-Service.
Who are APX Lending's main competitors?
Regional players on record are WonderFi and Netcoins. Direct peers are Aave, Matrixport, Compound, Nexo, SALT Lending and Ledn. Broad incumbents are Coinbase and Galaxy Digital.
Does APX Lending have an API?
No public API is recorded for APX Lending.
What industry is APX Lending in?
APX Lending's product category is Crypto-Backed Lending Services. Its primary akta.pro industry code is FSADAFAG, Crypto-Backed Consumer Loans (Secured), with a secondary code of FSADAFAD, Institutional / OTC Crypto Credit & Bilateral Lending. Its SIC code is 6141.