LONDON, UK: AQRU plc (AQSE: AQRU), an incubator specialising in decentralised finance (“DeFi”), has partnered with Blimp Technologies Inc. (Blimp Homes) to launch a start-up branded “ByBrix”, to pursue opportunities in the underserved crypto-mortgage market.
With more than 147,000 cryptocurrency wallets containing $300,000 or more worth of Bitcoin, controlling a total of $500 billion in value, AQRU and Blimp Homes believe there to be a large addressable market for cryptocurrency-backed mortgages (Source: Glassnode).
ByBrix has an impressive senior leadership team made up of cryptocurrency and real estate professionals, led by CEO, Troy Huerta. Mr Huerta has significant expertise in business development and brand building, with more than 30 years’ experience in the real estate sector. He was previously Vice President of Business Development at Blimp Homes, and prior to that CEO and President of SRE Mortgage Alliance Inc., a mortgage bank, and Executive Vice President of SRE Technologies, a technology-based real estate brokerage.
ByBrix will join AQRU’s roster of portfolio businesses and AQRU will use its operational skills and experience in FinTech and decentralised finance to support ByBrix’s growth and help it position itself as a leader in the crypto-backed mortgage sector.
ByBrix will also draw from Blimp Homes’ expertise in embedding blockchain technology in the real estate market. Blimp Homes, currently in AQRU’s portfolio, is a home search and transaction collaboration platform that rewards users for browsing homes and connects homebuyers, sellers, and real estate professionals to communicate on all aspects of real estate transactions.
Philip Blows, CEO of AQRU, commented: “With the launch of ByBrix, we are bridging the gap between decentralised and traditional finance by enabling people to use their cryptocurrency to purchase property. We are thrilled to be developing offerings that not only enable investors to take advantage of all the opportunities available in decentralised finance, but that can also strengthen our presence in the DeFi sector and deliver long-term value for our shareholders.”
Matt Shaw, CEO of Blimp Homes, commented: “The home-buying process has become increasingly expensive and difficult, and there is desperate need for innovation in the space. By launching ByBrix in partnership with AQRU, we are combining our expertise in real estate and blockchain technology with AQRU’s significant experience in FinTech and decentralised finance to offer a feasible solution to people who want to buy property using their cryptocurrency. We are delighted to be taking this important step in our mission to democratise and streamline the real estate market and look forward to seeing ByBrix grow.”
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