Corporate
Block Earner becomes the first crypto company in Australia to secure an Australian Credit Licence
20 May 2026
Sydney-based fintech Block Earner has been granted an Australian Credit Licence (ACL) by ASIC, a first for any crypto company operating in the country, and a milestone moment for regulated crypto-backed lending in Australia. Read the full story by Jack Derwin in Capital Brief.
Key takeaways
- Block Earner is the first crypto company in Australia to be granted an Australian Credit Licence (ACL) by ASIC.
- The ACL underpins Block Earner's Crypto-Backed Loans product, allowing Australians to access liquidity from their digital assets without selling.
- Australians hold an estimated $70 billion in crypto assets, with growing demand for regulated ways to unlock that value.
- Block Earner expects to cross $100 million in loan originations in the near future.
- The licence marks years of close engagement with ASIC and a significant step forward for the broader Australian digital asset industry.
A first for Australian crypto loans
The Australian Credit Licence is issued and regulated by the Australian Securities and Investments Commission (ASIC), and is required for any business that provides credit to consumers in Australia. It is held by traditional lenders including the major banks, non-bank lenders, and mortgage providers.
Until today, no crypto company in Australia had been granted one.
Block Earner's Australian Credit Licence covers the provision of consumer credit, and underpins its Crypto-Backed Loans product, a blockchain and cryptocurrency lending solution that allows customers to unlock liquidity from their digital assets without having to sell them.
The approval marks a significant step forward for the Australian digital asset industry, which has long called for clearer regulatory pathways to bring innovative crypto-backed products to market under domestic oversight.
What the ACL unlocks
Block Earner's Crypto-Backed Loans product allows Australian individuals and businesses to borrow against the value of their crypto holdings, via a line of credit or fixed term loan. The product is designed for crypto holders who want to access liquidity without giving up their position in the market.
If the price of a borrower's assets falls below a certain threshold, they are given a 30-day window to top up their holdings rather than face liquidation, a customer-first feature that sets the product apart in the category.
With the ACL secured, the product operates under Australia's consumer credit framework, providing borrowers with the protections and disclosures required of any licensed lender.
"We hold the general view that credit is outdated, and traditional credit models don't appreciate value held in digital assets like crypto," said James Coombes, Chief Operating Officer at Block Earner.
Block Earner expects to cross $100 million in loans issued in the "very near future," Coombes added.
Years in the making
The road to securing an ACL was, in Coombes' words, "a hell of a ride." The application was first lodged several years ago, and the process involved extensive engagement with ASIC, including detailed product walkthroughs and ongoing dialogue around how Australia's consumer credit framework applies to digital asset–backed lending.
"We met with several ASIC [employees], and we took them through a really deep dive of the product, an hour-long presentation, and it was very hands-on. They had a lot of questions," Coombes said.
Founder and CEO Charlie Karaboga said the licensing process reflected genuine, if gradual, progress in Australia's regulatory environment.
"There is definitely good progress. Obviously if you ask us, are we close to the US in terms of clarity, I think that answer is no. But hopefully we will get there," he said.
Built Australians to actually use crypto
Founded in 2021, Block Earner set out to make digital finance more practical, accessible, and useful in everyday life. We help turn crypto into real-world financial utility, without forcing people to sell or depend on legacy systems.
Despite Australians owning an estimated $70 billion in crypto assets, regulated pathways for using those assets as security have been limited. Block Earner's Crypto-Backed Loans product is designed for that gap, giving holders the option to access the value of their portfolio without exiting the market.
"When we built the product, we wanted to give customers the flexibility to sell when they think the time is right," Karaboga said. "People will find some creative ways of deferring their decision when to sell their assets."
That flexibility is increasingly relevant in the current environment. With the federal government's recently announced changes to capital gains tax, more investors are expected to look for ways to access liquidity without selling their assets.
Building the future of crypto-backed credit in Australia
The ACL positions Block Earner as the only Australian Credit Licensed provider of crypto-backed consumer credit in Australia, and lays the groundwork for the company's continued growth across its lending suite.
For an industry that has spent years calling for clearer regulation, today's announcement is a clear marker that the framework is starting to catch up, and that crypto-backed credit products can meet the standards Australians expect of any regulated lender.
About Block Earner
Block Earner is an Australian fintech building the next generation of credit products for digital asset holders. Through its Crypto-Backed Loans product, customers can borrow AUD against their crypto holdings without selling. Block Earner is registered with AUSTRAC, and holds an Australian Credit Licence.
Disclaimer: Approved applicants only. Terms, conditions, fees and charges apply. Credit provided by Web3 Loans Pty Ltd ACN 668 516 952 and managed by Web3 Ventures Pty Ltd trading as Block Earner (ACN 655 090 869) under Australian Credit License 542689. *Capital is not covered by the Australian government deposit guarantee. For more info please see our Terms of Use and FAQs.
