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Sydney entrepreneurs build $35m crypto-backed loan book

Tess Bennett
Tess BennettTechnology reporter

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A Sydney start-up convinced private credit players to tip $35 million into crypto-backed loans last year, targeting borrowers who refuse to part with their bitcoin to crack the housing market or grow a small business.

Founded by Johnny Phan and Alexander Dauphin in 2022, Vield began writing loans last year collateralised against the surging value of bitcoin and ethereum, quickly building a loan book funded by wealthy Australians and private investors.

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Tess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter. Connect with Tess on Twitter. Email Tess at tess.bennett@afr.com

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    Original URL: https://www.afr.com/technology/sydney-entrepreneurs-build-35m-crypto-backed-loan-book-20250103-p5l1wz