Block Earner wins Australia’s first crypto credit licence

Binaya Dahal

Journalist

21 May 2026

The Australian Securities and Investments Commission (ASIC) has granted Block Earner an Australian Credit Licence, the first of its kind for a digital asset platform in the country, paving the way for cryptocurrency holdings to be used in regulated lending products.

The Sydney-based fintech received a green light from the corporate regulator on Wednesday, allowing it to originate, underwrite and offer credit products under its own regulatory permissions rather than through a third party. Until now, the firm had operated as a credit representative of Mortgage Direct.

The company came to prominence in July 2025 when it announced the launch of Australia’s first bitcoin-backed home loan, a solution it says has since generated more than $500 million in mortgage demand at the waitlist stage.

Block Earner co-founder and chief executive Charlie Karaboga said it was important to bring products built on digital assets within established regulatory frameworks that support transparency, responsible lending and appropriate consumer protections.

“We welcome ASIC’s continued progress in providing a clear pathway for firms in this space. Digital assets are becoming an increasingly common store of wealth for Australians,” Karaboga said.

“Operating with strong governance and responsible lending has always been our priority. As a registered Virtual Asset Service Provider (VASP) now holding an ACL, we are proud to be shaping a compliant, disciplined future for the digital asset economy in Australia and globally.”

Industry estimates suggest more than four million Australians hold digital assets today. But traditional lenders have largely avoided recognising them as collateral because of concerns over volatility, custody arrangements and regulatory uncertainty.

Block Earner chief commercial officer James Coombes said digital assets now form part of the wealth picture for millions of Australians, and the industry must ensure lenders incorporate them into regulated financial products that meet Australia’s credit standards.

“As an AUSTRAC-registered provider, Block Earner has built its platform on a foundation of regulatory alignment, transparency and user empowerment, delivering innovative financial solutions powered by digital assets and blockchain technology,” Coombes said.

“As the first digital asset specialist to obtain an Australian Credit Licence for this purpose, Block Earner is reinforcing its commitment to building within Australia’s established regulatory framework.”

However, ASIC remains engaged in a separate High Court proceedings against Block Earner over its earlier “Earner” product, a fixed-yield crypto offering the regulator alleges involved unlicensed financial services and an unregistered managed investment scheme.

The case follows a multi-stage legal battle through the Federal Court system and remains ongoing as ASIC seeks clarification on how existing financial services laws apply to digital asset products.