The Farm at Okefenokee First to Use New Bitcoin Program

-

NEW YORK – Abra, a global platform for digital asset prime services and wealth management, today announced a partnership with BitPay, the world's largest provider of Bitcoin and cryptocurrency payment services. 

Via the Abra and Bitpay partnership Bitpay merchants will have access to a bitcoin-backed loan product for their customers to make purchases.

Abra, via its subsidiary, Abra Capital Management LP (ACM), will support BitPay merchant customers that want to borrow against their BTC collateral to make purchases. Customers pledge bitcoin as collateral to a loan, then use the loan proceeds to fund high value purchases. Once the loan is paid off, the bitcoin is returned to the borrower’s wallet.

The Farm at Okefenokee, a 705-acre regenerative farming community in Folkston, Ga., is the first merchant to use this partnership to offer bitcoiners a way to purchase cabins at the farm. The community at The Farm enjoys a modern, self-sufficient lifestyle with like-minded neighbors and bitcoiners. Other BitPay merchants may now offer this product so that consumers can make purchases in the real estate, automotive and luxury goods categories. Contact at info@okefarm.com. 

Abra’s model allows borrowers to get credit against their BTC collateral in several business days and leverages on-chain credit markets that do not have counterparty risk. The borrower’s collateral is segregated in a client vault via ACM, where title to the assets remains with the borrower. Borrowers are able to track their collateral on-chain.

Marissa Kim, Head of Asset Management at Abra, says, “We have seen significant demand for bitcoin-backed loan products from our clients and look forward to facilitating wider adoption of this product as more U.S. consumers have crypto wealth and want to unlock liquidity without selling their crypto.”

“Our partnership with ACM represents the next evolution of bitcoin payments, giving savvy investors the power to spend their bitcoin while maintaining their HODL position,” says BitPay Vice President Merrick Theobald.

Popular posts from this blog

Berkshire Hills Announces Allocation of Inaugural $100 Million Sustainability Bond

-
Image
BOSTON (Real Estate Wire/Green Trends) - Berkshire Hills Bancorp, Inc. (NYSE: BHLB) ("Berkshire" or the "Company"), announced that proceeds from its inaugural sustainability bond have been allocated to projects resulting in the creation of 330 units of affordable and workforce housing along with more than 200,000 square feet of green building development.  Berkshire's Sustainability Bond Report, released in conjunction with today's announcement, demonstrates how proceeds were allocated to support affordable housing, workforce housing, green building and financial access and inclusion projects in communities across New England and New York. In June 2022, Berkshire became the first public U.S. community bank holding company with under $150 billion in total assets to issue a Sustainability Bond. The $100 million issuance of its 5.50% fixed-to-floating rate subordinated notes due 2032 was used to finance or refinance new or existing social and environmental pro...
Read more

Alpine Start Development Announces Commencement of Alpine Fossil Creek

-
Image
By Mike Bonts, Editor DALLAS, Texas -- Alpine Start Development (ASD), a family-owned real estate development and investment firm, has announced the start of its first apartment development in Haltom City, "Alpine Fossil Creek".  This new apartment community features 296-units within three-story garden-style buildings situated on 15.6 acres, overlooking Big Fossil Creek. The community is just a 10-minute drive to downtown Fort Worth, and across the street from Haltom City High School.  "This is more than just the start of construction. It represents a long, shared vision between Alpine Start, the City, and our partners. We are honored to be a part of bringing this vision to life. This project is a testament to what can be achieved when dedicated partners come together with a unified goal of creating something special," said Jacobe Chandler, SVP of Alpine Start Development. "We are excited to debut our first development in Haltom City, a coveted market we've...
Read more

SJHP Multifamily Development For At-Risk Veterans Earns Florida Water Star Certification

-
Image
By Mike Bonts, Editor ST. AUGUSTINE, Fla. – A water efficiency certification program developed by the St. Johns River Water Management District is helping to serve at-risk Veterans while conserving water in St. Johns County. Started nearly two decades ago, the Florida Water StarSM program offers an accessible and affordable path for builders and developers to follow so their projects use less water in landscapes, irrigation systems and indoors. Combined, these measures help achieve the water efficiency performance needed in new homes and businesses. Patriot Place is the most recent development to receive the Florida Water Star certification. St. Johns Housing Partnership, a nonprofit that develops affordable housing, built Patriot Place. The apartment home community for at-risk Veterans also received “Florida Green” certification from the Florida Green Building Coalition, the state’s leading certifier of residential and commercial construction projects, land developments and local gove...
Read more