Better Home & Finance Holding Company (NASDAQ: BETR), and Coinbase (NASDAQ: COIN) have partnered on the introduction of cryptocurrency-backed mortgages that will be backed by Fannie Mae (OTCQB: FNMA).
The new mortgages will be originated and serviced by Better, with Bitcoin and USDC pledges powered by Coinbase. According to the companies, Americans who qualify for a mortgage with Better will now be able to pledge Bitcoin or USDC as collateral to fund their cash down payment without liquidating tokenized assets.
Interested borrowers can register for early access today at better.com/crypto-backed-mortgages.
“Better was founded to make homeownership more accessible for all Americans, and this partnership with Coinbase introduces a new pathway to realizing the American Dream for the 52 million Americans who own digital assets,” said Vishal Garg, the CEO and founder of Better. “Together, we are taking a major step towards truly democratizing homeownership for hardworking Americans.”
“The ability to transform digital wealth into housing access is an exciting milestone in our mission to increase economic freedom,” said Max Branzburg, head of consumer and business products at Coinbase. “Token-backed mortgages are a major first step to unlocking homeownership for the younger generations that have struggled with barriers to saving for a traditional downpayment.”
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