BankSocial introduces the first Blockchain home loan using sophisticated technology allowing BankSocial to provide the world with a digital closing solution.

BURNABY, BRITISH COLUMBIA, CANADA, February 17, 2022 /EINPresswire.com/ -- Fivancial, the company that operates the BankSocial suite of products, has announced a new home loan product that will use blockchain technology to streamline the home loan process for borrowers and lenders. Unlike other companies purporting to have a blockchain opportunity available, only to make you signup for a waiting list, BankSocials products are available immediately. The new solution will employ sophisticated technology that allows BankSocial to provide a digital closing solution that incorporates crypto, blockchain, and NFTs into as many facets of the process as possible. By wrapping the home loan into the security of the blockchain and NFTs, BankSocial is able to offer borrowers and lenders a more secure and efficient way to complete a mortgage transaction. Along with this industry first, BankSocial has also introduced a home loan staking platform that allows you to utilize your crypto to purchase a home without selling your crypto. With the Keep Your Crypto home loan product, you can stake your crypto and BankSocial buys the home for you. CEO John Wingate said that "This is a tremendous achievement cause oftentimes people do not want to spend their crypto as they lose the upside. With our new Keep Your Crypto home loan, you can keep your crypto and realize the upside for years to come." Mr. Wingate was also quick to include that traditional home loans for personal use and hard money loans were also immediately available.

"Blockchain technology is a big step forward in the mortgage industry," said Wingate. "This solution gives us an opportunity to leverage this new technology and provide better service for our customers." With blockchain-based mortgages, borrowers will be able to store their documents on the blockchain securely and easily share them with other parties as needed during the transaction process. The platform also allows you to make payments quickly using cryptocurrency if desired. In addition, by putting all records of transactions into one system that can't be changed without everyone knowing about it (which makes fraud less likely), we're giving people peace of mind when they buy or sell their homes. We've developed these new solutions because we know how important your data privacy is to you - and we're committed to protecting it."

The platform is currently being tested by BankSocial customers in the U.S. and will be available worldwide later this year, with plans for expansion into other countries as well. BankSocial is also working with regulators around the world to ensure that blockchain-based products are compliant with local laws and regulations. "BankSocial's new technology offers significant advantages for consumers, lenders, and real estate professionals," said Wingate, CEO of Fivancial. "The system is faster and more secure than traditional mortgage solutions. It also simplifies the process by eliminating paperwork and making it easier to get approved."

BankSocial's new solution is immediately available in the US and will be expanding into other markets worldwide with plans already underway for expansion into Canada, the UK, and most of the EU.

In addition to BankSocial home loans, business hard money loans are also available worldwide for immediate use. The business hard money loan is focused on the real estate market to allow holders of crypto to utilize their crypto funds to flip homes and complete new construction. The Keep Your Crypto program is also available to business users, "We wanted to give business owners the ability to stake, and for a short period of time, get access to funds that they would have otherwise had to sell their crypto to access.", said Wingate. The evolution has arrived with these two products and Fivancial is leading the way in the real estate and asset-backed lending space in blockchain and crypto.

For more information, please visit our website at Banksocial.io or contact us at press@banksocial.io.

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