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With a crypto-backed mortgage originated and serviced by Better, borrowers get a standard Fannie Mae mortgage on the home as well as a second loan that is secured by cryptocurrency and funds the cash down payment. This solution enables crypto holders to secure a home loan without having to liquidate their crypto holdings, forgo future upside and trigger capital gains taxes.
“These new crypto-backed mortgages are the first step in integrating crypto into the core plumbing of the U.S. housing finance system,” Coinbase said in the post. “This is what the Everything Exchange vision looks like in practice: not just trading every asset class onchain, but making those assets usable in the real world.”
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