Coinbase is expanding its Bitcoin-backed mortgage program, allowing borrowers to buy homes without selling their BTC or facing margin calls. The exchange and Better Mortgage have moved their token-backed conforming mortgage into general availability, taking a product that closed its first Bitcoin-backed Fannie Mae loan in June into a broader nationwide offering for Coinbase One members.
Per Coinbase, the mortgages are originated and serviced by Better and powered by Coinbase, with the first lien structured under Fannie Mae guidelines as a standard conforming home loan. The crypto-backed portion sits alongside that mortgage, allowing qualified borrowers to pledge digital assets toward the down payment without first selling their holdings. A waitlist opened in June generated more than $260 million in projected loan volume, with 76% of respondents already Coinbase One members and 60% saying they planned to buy a home within six months. The expanded offer became available on August 12.
Coinbase One members approved for a Better loan can also receive a lender-funded credit equal to 1% of the mortgage value, capped at $10,000. Better said the credit now extends beyond the token-backed product to standard mortgages, home equity lines of credit, and refinances. The launch builds on the company’s first Bitcoin-backed Fannie Mae mortgage completed in June. With the product now generally available, the focus shifts from an early test case to whether crypto-backed borrowing can gain a more durable place in the conventional U.S. mortgage market.