The company disclosed that Coinbase and Better Mortgage have expanded their Bitcoin-backed mortgage products to a wider range. Eligible Coinbase One users can apply for home loans without having to sell their BTC. The relevant services were launched on August 12th.

The mortgage structure follows traditional lending practices.

According to Coinbase, this product was initiated by Better who is also responsible for subsequent services, while Coinbase provides the encryption asset support capabilities. The first-lien mortgage portion of the housing loan still follows Fannie Mae's compliance mortgage standards and is formally considered a regular compliant housing loan.

Unlike traditional mortgages, borrowers can use digital assets as part of their down payment without having to sell their Bitcoin holdings first. Coinbase states that this design also prevents borrowers from directly reducing their Bitcoin holdings for the purpose of purchasing a home. BTC

First related loan completed in June

In June, the business completed its first Freddie Mac loan supported by Bitcoin, and subsequently began to be promoted on a larger scale. Coinbase indicates that since the waitlist was opened in June, the estimated loan volume has exceeded 260 million US dollars.

• 76% of the alternate users are already Coinbase One members.
• 60% indicates a plan to purchase a home within 6 months.

From the disclosed content, it appears that this product is transitioning from an early pilot phase to formal promotion, and the focus of observation has also shifted from individual cases to whether actual demand can be continuously met.

Some loans are eligible for a 1% subsidy.

The company disclosed that Coinbase One users who have been approved for a Better loan can also receive a lender subsidy equivalent to 1% of the mortgage amount, up to $10,000. Better indicates that this subsidy is no longer limited to token-backed mortgages but also covers standard housing loans, home equity line of credit loans, and refinancing services.

This means that Coinbase and Better are attempting to extend support for encrypted assets in loans from a single innovative product to more conventional US housing finance scenarios.

Additional information:According to the original text, this product features that borrowers do not need to sell BTC, nor do they have to endure notifications for additional margin requirements.