And this is how it works: go to your house bank and discuss a loan application with Bitcoin as collateral. Negotiate your loan amount, interest rate, term, and repayment rate. Offer Seedpro as a collateral procedure with a key split involving a trustee or notary. Together with them, you activate a new wallet and transfer the loan amount in Bitcoin to it, e.g., 0.5 BTC. In return, you receive, for example, 75% fiat loan, i.e., approximately 37,500 Euros (as of Q2 2025). You then repay your installment and interest for the duration of the contract. For example, €1,000 + €250 interest/month.
Expect about €1,000 in costs for setting up the loan with SeedPro, notary, and contract. The trustee or notary receives your SeedList, and the bank and you receive your KeyCode. Please note: Only the SeedPro procedure is possible, as otherwise, the bank and notary would require a custody license from BaFin, which is regulated by ordinances according to KWG §1 Abs.1a Nr.6 in Germany, as well as MiCAR from FINMA and FMA in Switzerland and Austria. It is complex and expensive, which is why very few possess it.
Agree on who will generate the Keycode and how it will be transferred to storage. Regulate in the contract the release of the Seedlist by the notary to you after contract termination or at the end of the loan. Of course, the bank will be contractually entitled to request the Seedlist from the notary and use the KeyCode to recover a wallet with your Privatekey if you do not repay the loan. It will then realize the outstanding amount and transfer the remainder to you at the daily rate. Your wallet, Seedphrase, and Privatekey will then be burned. You will have to set up a new wallet for the remaining sum and create a new backup. For a processing fee, the bank can offer you a payout in fiat currency if agreed upon beforehand.
Please note that the bank will require proof of origin and detailed transaction histories of your Bitcoin.