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Yogita Khatri

Coinbase and Better close first Fannie Mae mortgage backed by bitcoin collateral

Coinbase and Better Home & Finance Holding Company said they have funded the first Fannie Mae-backed mortgage that uses bitcoin as collateral, and aim to expand access to qualified borrowers nationwide by the summer. The product lets borrowers use bitcoin or USDC to cover a down payment via a separate crypto-backed loan, allowing them to avoid selling their holdings while receiving a standard conforming mortgage.
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