Coinbase One Members Gain Access to Crypto-Backed Mortgages

Better Mortgage and Coinbase have teamed up to expand crypto-backed home financing to eligible Coinbase One members. This means borrowers can use Bitcoin or USDC as collateral without selling their holdings.

The program allows approved customers to receive a lender credit equal to 1% of the mortgage value, capped at $10,000. This credit can be applied to standard mortgages, refinances, and home equity lines of credit.

Better Mortgage said 41% of pre-approved customers meet income and credit standards but lack enough cash for a traditional down payment. The companies first announced the token-backed mortgage in March, with the wider rollout following a waitlist that represented more than $260 million in projected loan volume.