Svmuu News Coinbase announced a partnership with U.S. online mortgage platform Better to launch the first compliant crypto-backed mortgage product. This product allows users to use Bitcoin or USDC held in their Coinbase accounts as collateral for a down payment on a home purchase. The related mortgage will be issued and managed by Better, offering the same legal protections as traditional compliant mortgages.
It is reported that the product features a "dual-loan structure": one is a standard mortgage, and the other is a down payment loan backed by crypto assets. Both loans share the same interest rate and term. Users only need to make a single combined monthly payment. The collateral assets will be custodied in a Coinbase Prime account and returned after the loan is repaid. The mortgage terms are not affected by BTC price fluctuations.