Miami’s real estate market is embracing the future of finance as The Rider Residences, a pioneering crypto-native condominium development, partners with Milo, a prominent crypto mortgage lender. This collaboration introduces an innovative program allowing digital asset holders to acquire property without liquidating their cryptocurrency holdings.
Crypto-Backed Financing For Real Estate
The new program enables crypto investors to utilize their Bitcoin and other digital assets as collateral for securing cash deposits on units at The Rider Residences. This allows buyers to fund their pre-construction deposits while maintaining the potential upside of their crypto investments. Initially, buyers can leverage their crypto for the 40% deposit.
Seamless Property Ownership
Upon completion of the building, Milo will offer a second phase of financing: a 30-year crypto-backed mortgage. This unique offering allows buyers to finance 100% of the purchase price at closing, eliminating the need for a traditional cash down payment. Interest rates for the initial crypto-collateralized loan for deposits are in the high single digits, presenting an attractive option for those looking to preserve their crypto assets.
A Game-Changer For Buyers
Diego Ojeda, President of Rilea Group, hailed the initiative as a "game-changer" for sophisticated buyers aiming to optimize their financial strategies. He emphasized that The Rider Residences are at the forefront of this movement, providing a comprehensive solution for transactions that reflect the evolving landscape of wealth and ownership.
Redefining Crypto’s Role
Josip Rupena, CEO of Milo, stated that the company is "redefining crypto’s role in everyday life." By providing cash liquidity to The Rider buyers without requiring them to sell their Bitcoin, Milo is facilitating a smoother path to property ownership while preserving the potential growth of their digital assets. The Rider Residences, located at the intersection of Wynwood, Midtown, and the Design District, has previously made headlines for completing Miami’s first wallet-to-wallet Bitcoin condo sale. The development offers furnished studios to three-bedroom residences, with prices ranging from the $400,000s to over $1.8 million, and is expected to be delivered in late 2026.