{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Scoop","title":"Digital collateral \"changes everything,\" says Abra CEO Bill Barhydt","html":"","width":"100%","height":180,"duration":3142,"description":"As the crypto market matures, owners of “pristine” digital assets will increasingly be able to use their holdings as collateral for an array of financial services, according to Bill Barhydt, CEO of Abra.\nFounded in 2014, crypto wealth management platform Abra closed a $55 million Series C last September led by IGNIA and Blockchain Capital.\nIn this episode of The Scoop, Barhydt explains why the recent Terra blow-up has no impact on crypto’s disruptive potential, and how a new wave of crypto-backed financial products promises to unlock more utility for long-term holders.\nAs Barhydt explains,\n“Most banks won't recognize crypto — I don't even know any that will recognize crypto when they're trying to figure out your financial status, when you're trying to qualify for a mortgage…”\nJust last month, Abra announced a partnership with Propy — the company who sold a Florida home for $650,000 using an NFT — allowing crypto holders to apply for loans using their crypto as collateral.\nWhile Abra is “not financing homes yet,” allowing long-term crypto holders to use their digital assets as collateral for down payments on property is a sign of maturity for the asset class, according to Barhydt.\nIf crypto can become pristine digital collateral like Barhydt imagines, he believes the implications will be felt around the world:\n“The banking system knows that I have this much bitcoin, it lends me this amount of money to complete my payments, and that's debited later — that's a much more efficient way to process credit transactions in countries where there is no credit scoring system, which is most countries, so having a kind of digital collateral changes everything.”\n\nEpisode 44 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Bill Barhydt, CEO of Abra.\nListen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.\nThis...","thumbnail_url":"https://img.transistorcdn.com/kC6kzNjgr18dm0FmBfV_f9xccAkjj-QXoCJmVNlNtrU/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8xZmIz/N2E5MmRmMzJjOTU3/OTNhYjJkYzcxZTlj/MTU2Yi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}