Meet BLOC, your Bitcoin-backed Line of Credit

Imagine this. You’ve been stacking bitcoin for years. A little from recurring buys. A little from card rewards. A little from shaking your phone in public even though, yes, people did look at you funny.

Then life does what life does. A business opportunity comes up. A big purchase needs to happen. An unexpected expense lands in your lap at exactly the wrong time.

You need access to cash. But selling your bitcoin? Maybe not what you had in mind.

That’s why we built BLOC.

Borrow against your bitcoin, without selling it

BLOC is Shakepay’s Bitcoin-backed Line of Credit.

It gives eligible customers access to credit secured by bitcoin held with Shakepay, without requiring them to sell it.

You can open a line of credit, borrow from your available credit directly in the app, and manage the whole thing in one place.

Your bitcoin stays held as collateral. You get access to cash when you need it.

How BLOC works

Customers can use BLOC directly in Shakepay.

You’ll be able to:

• Borrow up to $50,000, starting at 9.5% APR
• Use eligible bitcoin as collateral
• View your available credit in the app
• Track your balance, payments, collateral, and loan-to-value ratio
• Add or withdraw eligible collateral anytime, subject to product terms

Your available credit, borrowing limit, pricing, and collateral requirements are based on your eligibility and the applicable terms of your line of credit.

Why this matters

For a long time, bitcoin has been something you buy, hold, and mostly leave alone. We believe it can be more useful than that.

BLOC gives eligible customers another option: access liquidity while continuing to hold their bitcoin.

Built into launch week

BLOC is part of a bigger week of launches at Shakepay.

Savings gives shakers a dedicated place to set aside cash and bitcoin.

The physical card gives shakers more ways to use their Shakepay balance in real life.

And now BLOC gives eligible customers another way to access cash using their bitcoin as collateral.

All within one Shakepay account.

Ready to explore BLOC?

Open the app, review the full terms, and explore BLOC.

For full details, check out our FAQ.

A note on risk

BLOC is offered by Shakepay Credit Inc. to eligible customers under exemptive relief. Borrowing against bitcoin involves risk. If the value of your bitcoin collateral falls, you may need to add collateral, repay part of your balance, or some or all of your collateral may be liquidated in accordance with your agreement. This email is for informational purposes only and is not financial, investment, tax, or legal advice. Cryptoassets are volatile and are not covered by the Canadian Investor Protection Fund. Terms and conditions apply.