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Milo, a Miami-based financial technology firm specializing in crypto-backed mortgages, announced it has surpassed $100 million in total loan originations, including its largest single transaction to date — a $12 million crypto mortgage in Tennessee.
The company said in a statement that its mortgage portfolio has maintained a perfect track record of zero margin calls despite recurring periods of cryptocurrency volatility.
"Crossing $100 million in originations demonstrates the maturity and stability of our lending infrastructure," chief executive officer Josip Rupena said. "We've moved beyond proving the concept. Now we're proving the execution."
Milo's crypto mortgage product allows clients to pledge Bitcoin or Ethereum as collateral for home purchases up to $25 million without selling their digital assets, eliminating cash down payments and avoiding taxable events. The firm offers up to 100% financing, with interest rates averaging around 7% and starting at 8.25% for its broader crypto loan products.
The typical transaction involves a $1.5 million home purchase, Rupena told CoinDesk. Clients often earn around $100,000 annually but hold between $3 million and $7 million in cryptocurrency — wealth that traditional lenders have been reluctant to recognize.
Unlike standard crypto loans that may trigger margin calls at 25% drawdowns, Milo said it designed its product to accommodate declines of up to 65%. If collateral values breach that threshold, the company reduces the loan-to-value ratio rather than liquidating, allowing borrowers to retain their homes as long as they continue making payments.
"They're not going to lose their home because Bitcoin goes down," Rupena said.
Client assets are held through custodians Coinbase and BitGo, though Milo also offers a self-custody option for borrowers who prefer to maintain direct control of their collateral.
Adam Back, CEO of Blockstream, endorsed the product in the company's announcement.
"Milo's product is a game changer in Bitcoin lending and unlocks real world use cases for so many Bitcoiners," Back said. "While Bitcoin continues to appreciate, buyers are able to build equity in real estate and don't have to sell their long term conviction."
Milo holds mortgage provider licenses in ten U.S. states including Florida, Texas, California, Colorado, Connecticut, Arizona, and Tennessee, with additional states expected. The company said its separate crypto loan business quadrupled in 2025.
The firm operates as a licensed lender and is SOC 2 audited.
