Coinbase and Better Mortgage Launch Bitcoin-Backed Home Loans Nationwide
COIN sits 34% above its 52-week low of $139.11.
Summary
Coinbase and Better Mortgage are rolling out Bitcoin and USDC-backed conforming mortgages across the US, letting borrowers pledge crypto without selling or triggering capital gains. The product includes a down payment loan collateralized at 250% for Bitcoin and 125% for USDC, with no margin calls and liquidation only after 60 days of missed payments. Rates run 0.5% to 1.5% above standard 30-year fixed mortgages, and the program is exclusive to Coinbase One members, who get a 1% lender rebate capped at $10,000. It went live August 12 for the 1 million Coinbase One subscribers, following Fannie Mae's March approval and a June test that drew $260 million in projected demand. This expands Coinbase's revenue streams beyond trading and could deepen user lock-in, though the higher rates and collateral lock-up may limit adoption.
At the time of this announcement, COIN was trading at $186.50 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $47.4B. The 52-week trading range was $139.11 to $402.16. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Coinpedia.