Coinbase, Better Mortgage Launch Token-Backed Mortgage for Crypto Holders

Coinbase and Better Mortgage have launched a token-backed mortgage product that allows cryptocurrency holders to buy a home without selling their holdings.

The new product is structured to meet Fannie Mae conforming guidelines, with Better originating and servicing the mortgage while Coinbase powers the crypto collateral layer. Approved Coinbase One members receive a lender credit equal to 1% of their mortgage value, saving up to $10,000 in closing costs across standard mortgages, HELOCs, and refinances.

The waitlist for the product, which was opened in June, generated over $260 million in projected loan volume before launch, with 76% of applicants already Coinbase One members and 60% planning to buy within six months. The median age of a first-time homebuyer hit 40 in 2025 as rates, prices, and limited supply locked out younger buyers.

Better Chief Technology Officer Ziggy Jonsson noted that the product is aimed squarely at this group, whose wealth increasingly sits in crypto rather than a bank account. This launch arrives as Coinbase deepens its push into tokenization on multiple fronts, including the recent launch of Automated Token Portfolios using Coinbase's tokenized US stocks.