Coinbase and Better Mortgage Partner on Crypto-Backed Mortgages

Coinbase and Better Mortgage have partnered to allow Coinbase One members to pledge their cryptocurrencies as collateral for home financing products.

The initiative, which became effective mid-August, offers up to $10,000 in closing costs credits to eligible users. This credit will be applied against closing expenses and shown on the borrower's closing disclosure.

The crypto-backed mortgage program is built within Fannie Mae’s guidelines, making it a conventional mortgage with crypto assets pledged as part of the underwriting process.

Ziggy Jonsson, Chief Technology Officer at Better Mortgage, said that this program is geared towards 'a new path toward homeownership for a generation of borrowers whose wealth increasingly lives onchain.'