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Digital currency exchange Block Earner has raised $8 million in a Series A round following a strong take-up of the Sydney-based company’s latest product, a Bitcoin-backed home loan which was launched last month.
The latest round, which builds on a $7 million seed round in 2022, was led by CMCC Global’s Titan Fund with participation from King River Capital, an early backer of Immutable.
The capital will be used to drive growth in Australia for Block Earner as well as early-stage expansion into international markets.
The company has revealed that it has generated interest for more than $400 million in crypto-backed home loans, the first product of its kind for Australia which aims to tap into a potential market of more than four million domestic investors with personal cryptocurrency holdings of more than $50 billion.
This is up from the $110 million accumulated by the company from potential borrowers following an earlier soft launch of the product.
The home loan product allows borrowers to use their Bitcoin as security for deposit finance on property acquisitions while maintaining full market exposure to their crypto holdings.
Block Earner says the strong demand since the product was officially launched in July highlights an “appetite for regulated crypto-integrated financial solutions in Australia”.
“Crypto can no longer be considered as a trend,” says Block Earner CEO and co-founder Charlie Karaboga.
“Its performance over time has shown that crypto should be treated like any other asset class.
“At Block Earner, we build innovative products to help investors use their crypto in the same way they would use their other assets. By enabling crypto to be used as loan collateral without needing to sell it, we can unlock billions in value that would otherwise sit idle in the Australian economy.”
Karaboga says the new capital injection will allow Block Earner to accelerate the rollout of “innovative, user-friendly products” both nationally and internationally.
“By expanding access to regulated, blockchain-powered solutions, we’re showing how crypto can move beyond speculation and become a productive, mainstream financial asset,” he says.
The capital raise comes on the heels of solid growth for Block Earner since the digital currency exchange was launched in 2021.
“Our customers are increasingly looking for a seamless, trusted platform that helps them manage their digital assets, access global DeFi products, and put their crypto to work with ease, security and transparency,” says chief commercial officer James Coombes.
“We’re building toward a future where crypto sits naturally alongside other assets in investor portfolios,” he says.
CMCC Global’s Titan Fund, the lead investor in the latest capital round, is headquartered in Hong Kong and is ranked among Asia’s major dedicated blockchain and Web3 venture capital funds.
Shiau Sin Yen, the co-founder and managing partner at the fund, sees Block Earner’s platform as facilitating a rapid take-up of digital assets globally.
“Their ability to blend compliance, usability, and innovation into a single platform is poised to reshape the digital assets financial landscape,” says Yen.
“Their API-enabled model doesn’t just streamline crypto-backed lending for individuals, it opens the door to B2B partnerships and rapid global scalability.
“We believe this infrastructure will help power the next wave of regulated digital asset adoption, and we’re excited to support the team on that journey.”
Zeb Rice, the co-founder and managing partner of King River Capital, describes Block Earner as a crypto-sector pioneer that is integrating digital assets into "everyday financial services".
“Their commitment to compliance, user-centric design, and product innovation aligns with our vision of a future where blockchain technology underpins mainstream financial solutions,” says Rice.
“We’re pleased to support Block Earner as they lead the way in bringing crypto-backed financial products to the broader market."
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